Wednesday, 3 April 2013

Brazil Oil and Gas Report Q2 2013

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Brazil Oil and Gas Report Q2 2013
Apr 3rd 2013, 00:00

BMI View: We remain firmly bullish on the long-term outlook for the Brazilian energy sector, withproduction from the country''s pre-salt reserves pushing production to new highs. The 11th LicensingRound, to be held later in 2013, also presents strong upside risks, although at this point, any newproduction from these new blocks may fall outside the scope of our 10-year forecast period to 2022. Theshort-term outlook is more mixed, however, as ongoing regulatory challenges provide reason for somecaution. Of these, a flare up in the ongoing battle for a new Oil Royalty Law underscores the highlypoliticized nature of Brazil''s regulatory environment. This remains particula...

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