MercoPress. South Atlantic News Agency
Brazilian banks and funds create company to build deep-water rigs for Petrobras
A group of Brazilian banks and funds have created a company called Sete Brasil that will build seven deep-water rigs for state-run oil company Petrobras offshore exploration campaign, Petrobras announced on Monday. Read full article
Comments
Disclaimer & comment rules“However critics say building the rigs locally will boost Petrobras costs and slow development of the offshore reserves.”
May 17th, 2011 - 06:38 pm - Link - Report abuse 0Lisez:
“However venal critics that are paid lobby money by foreign enterprises say building the rigs locally will boost Petrobras costs and slow development of the offshore reserves.”
“However critics say building the rigs locally will boost Petrobras costs and slow development of the offshore reserves.”
May 17th, 2011 - 07:05 pm - Link - Report abuse 0You can imagine which economic system they were studying and where. Perhaps Chicago and massachusetts? Or just drank the “koolaid” served by their northern neo-liberal friends.
It actually probly does slow development, and raise costs for Petrobras specifically, but other international companies have less incentive, and poorer records, when it comes to doing the job PROPERLY, without spilling it all over the coasts, for example. Also, Petrobras reaps other rewards by keeping all it's business within Brazil, from maintaining a higher image standard at home, to having ease of business/regulation and taxation with the government. Upsides AND downsides, like everything in life. It certainly benefits the overall Brazilian economy too.
May 18th, 2011 - 06:32 pm - Link - Report abuse 0It actually probly does slow development, and raise costs for Petrobras specifically
May 19th, 2011 - 12:19 am - Link - Report abuse 0No it doesn't slow development at all, it spurs innovation what is good for development, that is good for Petrobras and for the workers who reinvest their money in the community.
Looks like a sensible policy to me. It may increase costs in the first instance but will assist industrialisation and improve skill levels. It is very much like what Norway did to use its oil to speed national development. As long as it stays commercial.....
May 19th, 2011 - 11:51 am - Link - Report abuse 0Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!