Lowered local content requirements for the oil industry to 50 per cent

On 11 April 2017, the National Energy Policy Council of Brazil (CNPE) approved the realization of the 3rd round of bidding under the production sharing scheme for off-shore pre-salt oil fields. It also relaxed local purchasing rules for the oil industry in an effort to attract foreign investment and lower costs. The requirement that oil companies operating in Brazil buy equipment locally has been lowered to half, and the level in the exploration of offshore oil fields to 18 percent.

• Type:

  • Treatment and operation (Operational conditions)

• Industry:

  • Primary (Mining and quarrying)

• Sources:

  • Agência Nacional do Petróleo (ANP), CNPE aprova realização da 3ª Rodada do Pré-Sal, http://lta.reuters.com/article/domesticNews/idLTAKBN1620AE, 11 Apr 2017
  • Reuters, Brazil to lower oil industry local purchasing rules by half -minister, http://in.reuters.com/article/brazil-oil-idINL1N1G71PD, 22 Feb 2017