Fearing sanctions project that seeks to reactivate sector

On 29 November, President Michel Temer signed a bill repealing the 2010 rule, which requires that Petrobras holds a 30% share of functionalism in assets governed by production sharing contracts, especially the subsalt .

With the new law, Petrobras will have the right to give preference to exploration consortium in fields that are interested in participating or in areas considered strategic for the company. The text also says that the National Energy Policy Council will give preference to state to express, within 30 days on whether or not to participate in the operation.

The change in the law was even defended by Petrobras, which requested more autonomy to discuss when entering an auction. During the ceremony, Temer said he considered exaggerated the company had to be present in all projects, when in some cases, in fact she had no interest in the business.

"There would be no reason to make her contribution. The project in reactive fact the oil and gas sector, gives a new impetus, "Temer said. The new law is one of several proposed reforms for the industry aimed at rekindling the interest of foreign oil for a number of licenses that are planned to take place in 2017.

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