Brazil oil law change key to attracting investment: Statoil

Norway’s Statoil sees changes to Brazil’s oil industry laws, including the end of mandatory participation by Petrobras in all subsalt blocs, as key for attracting foreign investment, Chief Executive Officer Eldar Saetre said on Thursday.

Saetre’s comments to journalists followed a meeting with Brazil’s President Michel Temer in Brasilia and he briefly talked to reporters after the meeting, in which he said they discussed Brazil’sbusiness environment and oil industry regulations.

“Having clear rules is very important to the development of Brazil’s oil industry,” said Saetre.

Brazil’s Congress is evaluating proposed changes to the country’s oil legislation, particularly in relation to the vast offshore oil blocs in a region known as the subsalt.

Read more

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by

Up ↑

%d bloggers like this: