Brazil's President Bolsonaro Appears Ready to Boost Oil Production

The wailing and gnashing of teeth from the anti-oil industry should be amusing.

And time for a happy dance party to celebrate what looks to be a solid boost for the international Oil & Gas industry.61d34f1b9678699ed05db727369b66dae2f0cfd922a76437824347359c2d85f8.jpg.c68930dc70a47b6363ce65ffd9526d48.jpg

Analysis: Brazil's Bolsonaro likely to advance oil-industry reforms

Brazil's oil and natural gas industry will likely continue to see reforms aimed at luring investments and boosting production, especially in the highly productive subsalt frontier, after the country elected Jair Bolsonaro, the self-styled "Trump of the Tropics," president Sunday.

... Under terms of Bolsonaro's economic policy plan filed in early October, the new president also pledged to gradually remove local content requirements, establish incentives for small companies as well as incentives for the exploration and development of unconventional deposits, and open the natural gas markets to competition. Petrobras will continue to be a state-led, mixed-capital company, but subsidiaries holding dominant market positions in refining, distribution, logistics and transportation will be sold off, according to the plan.

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61d34f1b9678699ed05db727369b66dae2f0cfd922a76437824347359c2d85f8.jpg.c68930dc70a47b6363ce65ffd9526d48.jpg

You gotta love it!

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8 minutes ago, Dan Warnick said:

61d34f1b9678699ed05db727369b66dae2f0cfd922a76437824347359c2d85f8.jpg.c68930dc70a47b6363ce65ffd9526d48.jpg

You gotta love it!

 

22a8c15b1d07453801dfc23d59d12a60f3c6abbc0061d53107408039b9f51f5f.jpg

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Tom_Brazil.thumb.png.e2eef42c8cdb80a71d179c229e46f623.png

Glad to see you changed your mind on Bolsonaro!

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44 minutes ago, GeoSciGuy said:

Tom_Brazil.thumb.png.e2eef42c8cdb80a71d179c229e46f623.png

Glad to see you changed your mind on Bolsonaro!

Yep.  He's probably not exactly a nice guy, but he looks set to be very good for the international oil & gas industry. 

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