Brazil - 09

Brazil: Senate Due to Vote on Key Regulatory Framework Revisions

According to local press reports, a proposal initiated by PSDB opposition senator Jose Serra to alter two major aspects of the current oil regulatory framework is due to be voted on in the Senate this week. Serra’s proposal, which aims to revoke the requirement that Petrobras operates all fields and has a 30% minimum stake in all pre-salt projects, has been sitting with the Chamber of Deputies’ Constitutional and Justice Commission (CCJ) for the past month. Just last week, Senate president and ruling coalition member Renan Calheiros of the PMDB stated that he would bring the proposal forward to be voted on as a matter of urgency.

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