Petrobras role in Brazil's economy disputed

Journal Article · Mon Jan 14 04:00:00 EST 1991 · Oil and Gas Journal; (USA)

OSTI ID:5598230

Brazil's state oil company is embroiled in a national dispute over its role in the country. The central issue is whether to continue the monopoly established for Petroleos Brasileiro SA on Oct. 3, 1954 or continue moves toward privatization and free market reform. The new president of Petrobras, Eduardo de Freitas Teixeira, at 36 the company's youngest head ever, has continued the tone of his embattled predecessor by attacking the state oil monopoly concept and defending the return of risk contracts for private domestic and foreign companies. Risk contracts were abolished under Brazil's new constitution in 1988. Although a wave of deregulation and economic reform swept President Fernando Collor de Mello to power last year, monoply is still a sacred cow in Brazil, supported by powerful interests.

• OSTI ID: 5598230
• Journal Information: Oil and Gas Journal; (USA), Journal Name: Oil and Gas Journal; (USA) Vol. 89:2; ISSN 0030-1388; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
BRAZIL
CONTRACT MANAGEMENT
DEVELOPING COUNTRIES
ECONOMIC POLICY
GOVERNMENT POLICIES
INDUSTRY
INSTITUTIONAL FACTORS
LATIN AMERICA
MANAGEMENT
PETROLEUM INDUSTRY
POLITICAL ASPECTS
PROGRAM MANAGEMENT
SOUTH AMERICA