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Shell suggests Petrobras should cede some drilling rights to foreign firms

Saturday, February 20th 2016 - 10:32 UTC
Full article 15 comments

Brazil’s government-owned oil giant Petrobras should cede some of its drilling rights to foreign firms, Royal Dutch Shell Oil CEO Ben van Beurden was quoted saying in Estado de Sao Paulo newspaper. Read full article

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  • L0B0MAU

    Drilling rights only? Instead; should sell PB, Privatize it!

    Feb 20th, 2016 - 01:08 pm - Link - Report abuse 0
  • Tik Tok

    Makes perfect sense because who would do a partnership in any kind with Petrobras when that company is going to be bankrupt.

    Feb 20th, 2016 - 02:31 pm - Link - Report abuse 0
  • Brasileiro

    Never! The oil belongs Brasil. Not to Petrobrás or Shell.

    https://www.youtube.com/watch?v=WaGIiIri8p8&index=10&list=FLmXPTu1f8AdGlizWNiASx2A

    Feb 20th, 2016 - 03:03 pm - Link - Report abuse 0
  • Briton

    drilling rights to foreign firms,
    its argentine oil,
    CFK said as much,

    Argentina owns everything.

    Feb 20th, 2016 - 08:51 pm - Link - Report abuse 0
  • L0B0MAU

    REF: “The oil belongs Brazil”:
    But in spite of that, the Brazilians are paying absurdly high price - for the oil as well as for maintaining PB functioning.

    PB [like many other govt. owned organizations & Public Companies] is a Total 100% Liability - a White Elephant - operated purposefully, for fulfilling the personal interests of the corrupt politicians.

    SCANDALS [Known AND Unknown (so far)] PLUS CRISIS [political, social & economic] = DISASTER [expected but unfortunate & unnecessary]

    Feb 20th, 2016 - 10:39 pm - Link - Report abuse 0
  • Skip

    Resources do belong to the people and the country as a whole.

    Doesn't mean the government should be the only one to develop them.

    Royalties and taxes should be used to harness the benefits for the country while private enterprise develops it. A big, monolithic organisation prone to corruption and inefficiencies is not benefitting Brazil.

    Feb 20th, 2016 - 10:45 pm - Link - Report abuse 0
  • T_Paine

    Feb 16 Brazilian state-run lenders are considering converting part or all of their outstanding loans to Petróleo Brasileiro SA into equity in a bid to help the embattled oil producer, two sources familiar with the plan told Reuters on Tuesday.

    PetroBras is going into bankruptcy.

    Feb 21st, 2016 - 12:33 pm - Link - Report abuse 0
  • Klingon

    Of course Shell wants to swoop it and buy the contracts cheap while oil is in the gutter, makes perfect sense.

    Feb 21st, 2016 - 12:37 pm - Link - Report abuse 0
  • L0B0MAU

    What do you mean, PB is going into bankruptcy?

    It's bankrupt ALREADY!

    REF: http://www.atribuna.com.br/noticias/noticias-detalhe/economia/percentual-de-grandes-industrias-que-vao-investir-cai-para-64/?cHash=6d9939a1fd2da4eb32926a7d3c688998

    Feb 21st, 2016 - 05:45 pm - Link - Report abuse 0
  • Jack Bauer

    @3 BR asshole

    “The oil belongs Brasil. Not to Petrobrás or Shell. ”

    Well, you got it half-right, you a.hole, but only half-right. Sure the oil belongs to Brazil, in the sense that the bulk of the revenue produced by it (not very much, nowadays), goes to Brazil, regardless of the company that extracts it........but at the moment, it is pretty obvious that PB doesn't have the necessary means (capital) to develop new oil wells..... so unless foreign companies become involved, Brazil's oil industry will go to the dogs.

    Feb 22nd, 2016 - 04:13 pm - Link - Report abuse 0
  • ChrisR

    @ 10 Jack Bauer

    Shell are far from being stupid.

    They know PB is fucked as a duck and are circling over the carcase.

    PB have NOTHING but this sort of deal to entice foreign investment to get PB out of the mire long term.

    Feb 22nd, 2016 - 07:14 pm - Link - Report abuse 0
  • Jack Bauer

    @11 ChrisR
    Exactly.....all that PB has to sell now, is 'potential'.....

    Feb 23rd, 2016 - 05:05 pm - Link - Report abuse 0
  • Hepatia

    Irrespective of what PBR thinks the Brazilian government, acting in the national interest of Brazil, should resist this move.

    This article gives important contextual information: http://www.brasilwire.com/snowden-wikileaks-brasil/

    Feb 26th, 2016 - 01:37 am - Link - Report abuse 0
  • ChrisR

    @ 13 Hepatia 'The Stupid One'

    Assange will be in the Embassy for another 25 years!

    Feb 26th, 2016 - 01:05 pm - Link - Report abuse 0
  • Jack Bauer

    @13 Hepatitis
    First of all, learn how to write English correctly, you dope.
    Second, the fact that the NSA spied on the fat Rouseff and PB, has nothing to do with the situation the Company and Brazil are in...it's no use trying to create falsehoods to divert attention from the real problems, which btw, is what stinking populist socialist goverments do to cover up the shit they produce.

    Feb 27th, 2016 - 10:48 pm - Link - Report abuse 0

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