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THE USA'S OIL SANDS

The USA's Oil Sands

Study Released September 13, 2010

In June, Brazil’s government passed two important bills that will affect the country’s oil industry development. The first bill allows the government to transfer drilling rights for up to 5 billion barrels of oil equivalent (boe) to Brazil’s largest energy company, the state-controlled Petrobras, as well as participate in the company’s planned rights issue in return for more stock and greater control. The second bill enables the government to replace the concession system, which was used to bring foreign investment into the offshore sector with production-sharing contracts (PSCs) for the pre-salt area1 and other strategic areas..... Download full report.
having the same potential as the pre-salt. Petrobras would
be an operator of all contracts under the PSC framework,
with a minimum 30 percent working interest. Output will
belong to the government under a production sharing
model, and participating international oil companies (IOCs)
will receive a fixed share of the revenues

Commodity Report - Crude Oil - August 2010

August 2010