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Brazil to start oil sales from production sharing contracts: update

Brazil will start to sell oil and natural gas from production sharing contracts with oil companies around September, the head of the state firm managing these contracts, Ibsen Flores, told Reuters on Tuesday.

Flores, the president of Brazil’s state-controlled company Pré-sal Petróleo SA (PPSA), said companies working through the relatively new contracts are expected to start giving the government its cut of the oil production around September.

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