Brazil Senate Votes to Limit Petrobras Role in Deep Waters

  • Legislators voted 40 to 26; bill now goes to lower house
  • Proposal eliminates company requirement to operate pre-salt

Brazil’s Senate approved legislation that relieves Petrobras of its role as sole operator and mandatory stakeholder in so-called pre-salt deepwater oilfields, potentially allowing the state-run company to direct resources to more profitable operations.

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