Brazil oil regulator says it will cut 350 rules in 2016

Brazil’s oil regulator ANP will extinguish about 350 rules in 2016 as part of efforts to attract investment to Brazil by simplifying regulations after a fall in world oil prices, the agency’s outgoing chief Magda Chambriard said on Monday.

In an interview with Reuters she also said the planned sale of the unleased portion of the giant Carcara oil discovery will occur in 2017. The unleased area contains about the same amount of oil and gas as the already leased portion owned by a group led by Norway’s Statoil ASA.

(Reporting by Jeb Blount; Editing by Sandra Maler)

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