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Brazil govt expects Petrobras to lose key oil rights: source

Bill ending state-run firm's dominant role in key offshore areas is likely to pass Congress

MR BENDINE: The Petrobras CEO has said that the firm lacks the finances to make the minimum 30 per cent investment in subsalt projects.


BRAZIL'S government expects a bill ending state-run Petrobras' dominant role in key offshore oil areas to pass Congress, reversing one of President Dilma Rousseff's signature policies, a source told Reuters on Thursday.

The bill, which is before Brazil's Senate, is likely

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