Measures to encourage oil and gas exploration in Brazil published in the official gazette on Wednesday could unlock $120 billion in investments, Energy Minister Eduardo Braga said in a statement.
The National Council of Energy Policy (CNPE) authorized the country’s oil agency to extend the concession of oil fields auctioned off in 1998 and proposed the extension of a special customs regime for oil equipment known as Repetro, according to the official gazette on Wednesday.
(Reporting by Leonardo Goy; Writing by Silvio Cascione)
Brazil Energy Insight 
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