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By Sibel Tinar, Contributing Reporter

RIO DE JANEIRO – When an explosion on the drilling rig Deepwater Horizon in the Gulf of Mexico on April 20th started sending tens of thousands of barrels of crude oil gushing into the ocean daily, the reverberations of the catastrophe inevitably raised questions regarding the future of Brazil's own development of its off-shore petroleum industry.

Petrobras, the semi-public, state-controlled energy company . . .

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