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Brazil Mulls Opening Biggest Oil Reserves to Outside Operators

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Brazil is weighing changes to lure foreign companies into its high-cost deepwater region after a corruption scandal and fiscal mismanagement left its national oil company unable to fund projects.

“The reality today is to attract investment,” Energy Minister Eduardo Braga said in an interview in Houston Sunday. Braga said. “There’s no way Petrobras can put down all the investments needed for the Brazilian economy.”