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4 months ago
Petrobras says eased Brazil content rules could boost revenue
April 12, 2017 / 9:42 PM / 4 months ago

Petrobras says eased Brazil content rules could boost revenue

SAO PAULO, April 12 (Reuters) - 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.

$1 = 3.1258 reais Reporting by Guillermo Parra-Bernal; Editing by Chris Reese

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