Brazil’s corruption-battered state oil company Petrobras could be a big beneficiary if the country’s opposition parties impeach President Dilma Rousseff, investors and analysts said on Monday.
Vice President Michel Temer, who would take power if Rousseff were impeached, is considered open to industry calls for changes to oil rules brought in by her Workers’ Party over the past decade.
Rousseff’s critics have said the policies, aimed at boosting state control of huge offshore discoveries, drove up costs, limited output and built up Petrobras’ crippling $126 billion debt, the largest of any oil company.
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