OIL DIPLOMACY IN BRAZIL
Brazil’s President Luiz Inacio Lula da Silva is trying to overcome opposition by three state governors to a legislative proposal he hopes will make the country a top oil producer and help fight poverty.
The government today plans to unveil a legal framework to develop off-shore oil deposits, which triggered euphoria and expectations of newfound wealth in Latin America’s largest country when they were announced in 2007.
The plans would make state-run Petrobras the sole operator of new oil fields.
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