Brazil - 04

Brazil: Reduced Local Content Requirements: Potential Negative Reaction

After more than a year of intense debates, on 22 February the Ministry of Energy and Mines announced several changes to local content requirements in the oil sector. The new rules – which still must be approved by the National Energy Policy Council (CNPE), due to meet sometime in March – stipulate five broad segments in which foreign companies will need to meet “global indexes” of local content. The changes are a major shift from the previous itemized system, in which companies had to meet various local content requirements in many different categories.

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