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Montevideo, May 29th 2023 - 18:20 UTC



Temer urges Congress to approve bill easing oil industry regulation and Petrobras monopoly

Tuesday, October 25th 2016 - 12:20 UTC
Full article 3 comments

President Michel Temer urged Congress on Monday to approve a bill that would ease oil industry regulation and strip state-controlled oil giant Petrobras of some of its privileges in Brazil's most promising oil fields. The proposed regulatory framework would “create new jobs” and “provide a new boost to investment in the sector,” Temer said in an address at the opening of the Rio Oil and Gas conference. Read full article


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  • Brasileiro

    Traitors able to approve this law goes against the interests of the Brazilian people. However, I sincerely hope that investors expect the 2019 auctions, because we have a new president. And, sure, he will not approve the breaking of the monopoly of Petrobrás in the pre-salt.

    Oct 25th, 2016 - 01:46 pm - Link - Report abuse -2
  • Jack Bauer

    Not going to bother addressing the idiot above, as he is an ignorant, brainwashed 'petista'.
    The fact is that since 2007/2008, when the (PT) govt nationalized PB again (in order to be able to control steal from it), it has only gone down the drain. During this period the company's market value dropped by more than 80%. Today it is just another, small oil company, without the necessary capital to invest in all the potential oil wells, so unless PB had the money to be at least, a 30% co-investor, no new wells could be drilled. This obligation has been done away with, which means that new oil wells can be explored with PB participation, allowing the country to benefit from larger daily output, increasing royalties on oil that would otherwise stay in the ground for another 20 years. But of course, as the initiative to do this, disobliging PB to invest in every single well, or alternatively, not be explored at all, was not the PT's, they are against it. Same as the PEC 241 (putting a cap on public spending), which in the end, besides being an essential measure, simply means that the govt cannot spend what it doesn't have....something the PT has always ignored, as their mission was and is only to ruin the country and be the sole party in power...exactly like VZ and Maduro.

    Oct 28th, 2016 - 04:53 pm - Link - Report abuse 0
  • :o))

    No matter what happens, the monopoly of PB in all sorts of scandals can NEVER be stopped!

    Nov 03rd, 2016 - 02:42 pm - Link - Report abuse 0

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