Oil majors are set to gather in Rio de Janeiro this Friday to unveil bids for stakes in Brazil’s high potential offshore areas ahead of elections that are casting a cloud of uncertainty over the industry.
By Haley Zaremba from Oilprice - Not too long ago Brazilian state oil company Petrobras was the most indebted oil & gas company in the world. The long-suffering company has faced dire mismanagement while being weighed down by allegations of involvement in Brazil’s widespread corruption. But that’s all changing.