Congress opens Brazil's huge "pre-salt" oil fields to the private sector

Congress opens Brazil's huge “pre-salt” oil fields to the private sector

Saturday, November 12th 2016 - 21:27 UTC

Full article 6 comments

Petrobras will begin selling off huge “pre-salt” oil fields to raise cash for the desperate Brazilian national oil company, according to new legislation passed by Congress. Politicians in the lower house had fought against the bill, but lawmakers succeeded in pushing the bill through during a late-night session, and the vote stood at 251-22 by the end of the night. Read full article

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:o))
If the Projection is for US$ 40B in TEN years; in reality, count on it to be “almost nothing” [obviously, with “explanations”]!
Nov 14th, 2016 - 09:32 am - Link - Report abuse +1
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ChrisR
Too little and way too late.

Must try MUCH harder.
Nov 14th, 2016 - 06:39 pm - Link - Report abuse 0
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Jack Bauer
While PB's debt is currently at USD 125 billion, getting rid of assets to the tune of USD 40 billion over the next tens years, may seem like a piss in the ocean, but let's look at it from the other angle, or : don't fire those who agree to join the voluntary dismissal programme, don't sell off assets (which do not refer to the company's core objective, and are not profitable), and in 10 years the company can declare bankruptcy. If Brazil, and PB, were to ever see the subsalt oil being extracted, the only way was to relinquish control over many oil fields (by revoking the obligation to participate in all investments with a share of 30% of the total investment) and allow foreign investors to come in....what's the point of having so much wealth under the ground (to last how much longer, no one knows) if you cannot tap in to it ?
If it's unfortunate and “too little too late”, it is only because under the PT, things would never change, and the only certainty is that they would break Brazil and PB (beyond recovery), re which the a.holes have done a pretty good job.
Nov 14th, 2016 - 07:14 pm - Link - Report abuse +1
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:o))
REF: “too little Too late”: It is for yet another reason:

Judging from the technological progress and also due to the economic & environmental reasons; in the next 10 or so years - in the nearest future, the demand for fossil-fuels will be much - MUCH - lesser than what it is today.

The use of alternative, green, renewable & sustainable energies will be more common - even in the poor underdeveloped countries. The battery powered vehicles (driverless) [not JUST cars] is no longer a fiction and is just ONE example.
Nov 14th, 2016 - 09:48 pm - Link - Report abuse 0
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ChrisR
@ :o))
”The battery powered vehicles (driverless) [not JUST cars] is no longer a fiction and is just ONE example.”

Don't get seduced by the (incomplete) headlines you see in the claims made for these devices.

The lithium batteries cost the earth FAR more in pollution and clean up costs (to get rid of them) than oil presently does.

But nobody, especially the climate change liars, will tell you that.
Nov 15th, 2016 - 07:11 pm - Link - Report abuse 0
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:o))
What's Difficult/Impossible/Impractical & Very Expensive TODAY may not be so after about 10-15 years from 2'016!
Nov 15th, 2016 - 10:05 pm - Link - Report abuse 0
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