Considering the atmosphere of the Brazilian Petroleum Institute (IBP) meeting in Rio de Janeiro, last week, there is as yet much to be discussed. The industry is united around Petrobras and, there is also a movement for minority shareholders to take judicial action to avoid having the company negatively affected. Another vector of confusion is the possibility that exploitation contracts might be annulled, which would affect the country’s image and Investment Grade. Curiously, Petrobras, that always maintained an arrogant posture in relation to other industry companies, now seeks support amongst the private sector, which it needs to face the threat of the new state-owned company.
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