Brazil Congress Makes Petrobras Sole Pre-Salt Operator
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Brazil’s lower house of Congress approved new oil regulations that will increase government control over the energy industry and reduce competition against Petroleo Brasileiro SA, the state-controlled producer.
The regulations approved yesterday allow Petrobras, as the company is known, to be sole operator of oil fields where licenses haven’t yet been auctioned. The oil producer will be able to explore every field in areas designated “strategic.” The bill needs the president’s signature.