Brazil’s president of the lower house, Eduardo Cunha, said on Friday that a requirement in the national oil law that state-run oil producer Petroleo Brasileiro SA, known as Petrobras, participate in all subsalt exploration and production blocks will be “corrected.”
Under the current legislation in Brazil, Petrobras must hold at least a 30 percent stake and function as operator in any new subsalt oil block that is auctioned by the government.
Brazil Energy Insight 
Funny how people don’t get it.
How can they possibly think that Petrobras could remain the Operator, call all the shots and maybe own, ?? Zero??
Frankly, no one gives a “rat’s ass” if PB still owns 30% (as long as they can fork over their $). It’s being the Operator that has caused all the friction with the other Operators.
Why does everyone in Brazil think the only problem Petrobras has is money.
This gets more ridiculous by the minute.
John Chadderdon, CEO Quest Offshore Resources, Inc. Office: +1 (281) 491-5900 Mobile: +1 (832) 443-0239
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