Brazil - 01

Brazil: Calheiros Puts Oil Sector Reform Bill Up for Senate Consideration

Following the resumption of congressional activities last week after the summer recess, Senate president and PMDB member Renan Calheiros included a bill that envisages changing the oil sector regulatory framework in the list of bills to be immediately considered. The bill, which is due to be discussed in the upper house this week and next, aims to end the requirements that Petrobras acts as an operator and owns a 30% minimum stake in all pre-salt fields. Senator Jose Serra of the opposition Brazilian Social Democratic Party (PSDB) first proposed this bill in July 2015.

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