BRAZIL A Shaky Start, But Strong Signals for Oil

摘要

Less than a month after taking office, interim President Michel Temer is dialing back the populist policies that have guided Brazil for over a decade, with changes to the oil industry being the most vivid example. Last week in Rio de Janeiro, newly appointed Petrobras Chief Executive Pedro Parente openly declared his support for a bill that would revoke his company's mandatory 30% operating stake in all projects in the offshore presalt formation, in stark contrast to his predecessors. It also confirms Temer's intentions to send a strong and clear signal to would-be investors in the energy sector.