Petrobras says eased Brazil content rules could boost revenue

Changes to water down strict local content rules on equipment to extract deep sea oil could help Brazil’s government earn 31 billion reais ($9.9 billion) worth of royalties and other revenue sources between 2020 and 2025, state-controlled oil company Petróleo Brasileiro SA said on Wednesday.

In a presentation filed with the country’s securities industry watchdog, Petrobras said failure to ease those rules could deprive Brazil’s government of about 6 billion reais a year in revenues from the extraction of presalt oil deposited in the Libra offshore prospect.

(Reporting by Guillermo Parra-Bernal; Editing by Chris Reese)


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