Temer signs bill that opens sub-salt oil deposits to private the sector

Wednesday, November 30th 2016 - 09:31 UTC

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Brazilian president Michel Temer signed legislation on Tuesday which opens the way for oil companies other than state-controlled Petrobras to operate the coveted sub-salt acreage. The bill repeals a controversial 2010 rule that requires Petrobras to hold a minimum 30% operating stake in assets governed by production-sharing contracts, mainly sub-salt assets. Read full article

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ChrisR
“Abandon hope all ye who enter here” is supposed to be the sign over the entrance to hell.

So fitting for investors in this dog's breakfast.
Nov 30th, 2016 - 07:06 pm - Link - Report abuse 0
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:o))
ChrisR:

Think of it as a great opportunity to the national / international crooks; since corruption is soon going to be ligalized in Brazil.
Dec 02nd, 2016 - 01:57 pm - Link - Report abuse 0
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