In a report published by the Wall Street Journal,"protesters tried to block the latest auction of an oil license there. But it isn't the bidders trying to get access to Brazil's energy riches that should worry irate citizens. It is the ones who aren't.
Few Western oil firms even took part in this auction. It is telling that the winning bid came from a consortium of five members and that it was the only bid. Little wonder its proposed allocation of oil to the government came in at the minimum level.
Brazil recent oil discoveries should thrill Oil majors, but the level taxation for the oil industry in Brazil is high vis a vis other countries fiscal regimes.
"Moreover, another rival has re-emerged to the north. The shale boom has pulled investment dollars from even committed globetrotters likeExxon Mobil back to more familiar territory: The U.S. Investment there topped $148 billion last year, up 67% since 2010, according to IHS Herold. That is about double the rate of growth elsewhere".
Few Western oil firms even took part in this auction. It is telling that the winning bid came from a consortium of five members and that it was the only bid. Little wonder its proposed allocation of oil to the government came in at the minimum level.
Brazil recent oil discoveries should thrill Oil majors, but the level taxation for the oil industry in Brazil is high vis a vis other countries fiscal regimes.
"Moreover, another rival has re-emerged to the north. The shale boom has pulled investment dollars from even committed globetrotters like
