Bolsonaro Gets Brazilian Oil Windfall With Output Poised to Soar
Today's Breaking News Headlines
After a decade of stagnant production, Brazil’s offshore mega-projects are about to deliver a double whammy with exports set to surge and Brent prices comfortably above $70 a barrel. This means more revenue for a country beset with fiscal deficits, and more activity in a key industry, said Decio Oddone, the head of Brazil’s National Petroleum Agency. The oil turnaround gives the government more than just cash -- it promises to revive the fortunes of Petrobras, the much-maligned state-controlled state oil company that’s a source of pride for many Brazilians but which has spent the past few years mired in scandal.
October 30, 2018 at 08:30AM
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