Brazil’s Energy Ministry is looking at the possibility, it said today in an e-mailed statement. Local content requirements weren’t discussed at yesterday’s biannual ministers meeting, the ministry said.
Oil producers are required to buy as much as 70 percent of goods and services locally, reducing the suppliers state- controlled oil producer Petroleo Brasileiro SA (PETR4) can tap as the country seeks to more than double output by 2020.
The same mechanism will be added to the new mining code that the government plans to send to Congress for appreciation, said a government official who participated in drafting the new rules on Feb. 6.
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