IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

state-controlled

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 23 Dec 2010 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

On 1 December 2010, the Brazil's Lower House passed a law that makes the state-owned Petróleo Brasileiro SA (Petrobras) the sole pre-salt field operator in Brazil. On 22 December then, President Luiz Inácio Lula da Silva signed the regulations into law no. 12.351 which took effect with its publication in the Official Gazette the following day.
 
Besides Petrobras being the sole operator of pre-salt fields, the law requiers that Petrobras holds at least 30% of the ownership stakes in any consortia that will be formed to exploit the pre-salt fields. Currently, there are three pre-salt fields: Franco, Libra and Tupi.

AFFECTED COUNTRIES

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