Upstream round tests post-strike confidence

摘要

The results of Brazil’s fourth production-sharing round on 7 June offer an encouraging barometer of investor sentiment following an intense few weeks that have tipped the country’s energy sector back into crisis. A crippling truckers strike at the end of May revived uncertainty over energy policy direction. By the time the 11-day strike ended, Brazilian president Michel Temer had ceded to truckers demands of a diesel price freeze and the wellregarded chief executive of state-controlled Petrobras, Pedro Parente, had resigned. Government pressure on Parente to dilute the firm’s international price parity policy is blamed for his 1 June departure. Brasilia denies any meddling.