Brazil’s Senate Approves Reducing Petrobras Requirements

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – In addition to the on-going impeachment discussions in Congress and the Lava-Jato (Carwash) mega corruption scandal disrupting the economic and political scenario in Brasilia, this week President Rousseff’s PT party was also dealt a blow in the Senate, with the approval of a bill which ends the requirement for Petrobras to participate in at least thirty percent of all pre-salt oil exploration in the country.

The PT party, a staunch defender of the ‘oil is ours’ principle started out squarely against opposition leader Jose Serra’s . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?