Latest Developments in the Brazilian Petroleum Sector
Article from: OGEL 5 (2003), in Roundup of Articles
Summary
Six years after the mitigation of the State monopoly over oil and gas activities in Brazil, it is time to review how successful the competitive market-oriented model has proven to be. The Brazilian Government conducted five rounds for granting exploration and production rights to prospective bidders. At first, the market showed some enthusiasm in the Brazil Rounds, but the results of the last round were rather disappointing. This article reviews the results of the Brazil Rounds so as to assess the main achievements and hindrances for the development of the petroleum sector and ...