Petrobras’s pre-salt monopoly nears end

By Abhishek Kumar 11 July 2016 15:49 GMT
The Brazilian government wants to end Petrobras’s monopoly over Brazil’s pre-salt acreage. (PA) The Brazilian government wants to end Petrobras’s monopoly over Brazil’s pre-salt acreage. (PA)

Market impact:
Bearish on LNG prices

The Brazilian government is taking steps to end the control of state oil company Petrobras over Brazil’s pre-salt oil and gas acreage. The move is expected to reduce the country’s reliance on LNG imports even further in the coming years.