Petrobras import of US condensate help address refining shortage, but faces tax controversy in Brazil

Tuesday, November 3rd 2015 - 06:42 UTC

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Petrobras’ move to start buying processed U.S. condensate will help output at its domestic refining network, but the purchases have exposed a wrinkle in Brazilian law that could allow the state-run company to import the light oil duty-free, tax lawyers and traders said. Typically, condensate is considered a very light form of crude found in oil or natural gas wells and in raw form is not taxable in Brazil. Read full article

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golfcronie
Brasso comments please
Nov 03rd, 2015 - 04:22 pm - Link - Report abuse 0
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