Petrobras Shows Its Strength
Claudio Paschoa
September 30, 2010
With Brazilian presidential elections imminent, and having just completed its successful shares offer, Petrobras finds itself in a privileged position with the new pre-salt legislation guaranteeing the company as sole operator of all the pre-salt blocks negotiated from the 11th bidding round onwards.Although some parts of the new legislation are still to be voted it is considered as a certainty that the bils concerning Petrobras´ greater influence in the pre-salt will pass. Since the discovery of the Tupi field in 2007, and other pre-salt fields discovered at the Santos Basin, there has been national and global excitement over the possible extent of Brazil´s pre-salt reserves.