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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