Brazil back on track
This year should see Brazil's recovery deepen, but also holds the risk of a presidential election derailing it
After a promising 2017, this year looks set to be a busy and productive one for Brazil's oil industry. The market re-opening will be consolidated with new acreage offers, important pre-salt projects are coming onstream, and additional oil reforms should boost competition in the country. After President Dilma Roussef's impeachment and the rise of Michel Temer to the presidency in 2016, the National Petroleum Agency (ANP) and Ministry of Mines and Energy (MME)—the two top oil regulators—started a turnaround, introducing rule changes and improvements in order to enhance Brazil's attractiveness. These changes came after years of stagnation, when previous administration policies proved to be detr
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Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
