The São Paulo State Oil Industry

By Anna Fitzpatrick, Contributing Reporter

SÃO PAULO, BRAZIL – With an oil leak off the Brazilian coast and tense negotiations over state oil royalties, the deep sea "pre-salt" oil discoveries have shown that it is not just the state of Rio de Janeiro that will have rewards and consequences. Although the spotlight has been on Rio, the states of São Paulo and Espírito Santo are important oil producing areas as well - indeed, SP's five large refineries account for 43 percent of Brazil’s oil refining capacity.

SP is also a large oil producing state. In 2008 . . .

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