Petrobras abandons oil exploration in Cuba; all eyes set on Repsol-YPF

Thursday, March 10th 2011 - 22:35 UTC

Full article 2 comments

Brazilian oil giant Petrobras has withdrawn from an offshore oil exploration block in Cuba's waters that it leased amid great fanfare in 2008, a Brazilian official said on Thursday, citing poor prospects. Read full article

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GeoffWard
This is a Brasilian message to 'communist' Cuba and 'communist' Nicaragua, that Brasil is changing to focus on its own needs.

'Revolutionary'' Dilma Rousseff has silenced her Brasilian critics (including me) for changing her paradigm and for focussing on what is necessary for Brasil, rather than what supports the 'global Left agenda'.
Mar 11th, 2011 - 02:01 pm - Link - Report abuse 0
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Forgetit87
The withdrawal had nothing to do with ideology, my ultra-ideological fellow. If it does, it is just plain stupid to cancel a commercial deal that could've brought high profits to Petrpobrás - and thus to the Brazilian government - because of values differences. Even the Brazilian dictators knew better than that (see Geisel's rapproachment with communist Angola and China).
Mar 13th, 2011 - 06:37 pm - Link - Report abuse 0
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