By Juliana Tafur, Contributing Reporter

RIO DE JANEIRO – Foreign companies and investors have flocked to Brazil since the extent of the pre-salt oil fields became known in 2006. Companies like Exxon Mobil, Shell and Repsol hurried in and acquired oil concessions. In exchange, they have operated independently by paying taxes and royalties to the Brazilian government. But now, a regulatory framework plans to change this scenario.

The subsalt fields would cease to be operated through oil concessions and would be run instead under a production sharing system. This means that all oil in question will belong to the Brazilian . . .

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