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Oil Resurgence Attracts Foreign Companies

Written by Paulo Nogueira

Published on 21/02/2018 at 09:58

Updated on 23/02/2018 at 13:00

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With Greater Participation of Foreign Companies Operating in Brazil and Rising Oil Prices, Experts Say the Moment Is Favorable for Our Economy

The oil and gas sector in Brazil is gaining new players. Companies from countries such as the United States, Netherlands, Switzerland, Denmark, France, and China are establishing themselves in the country and, mainly, partnering with national companies eyeing the recovery of the oil industry activity. This movement started to gain momentum in 2017 and is expected to grow in the coming years. Even Petrobras has noticed this trend. According to the state-owned company, at least 37 new foreign companies have already qualified as suppliers, of which 11 are still in the qualification process.

The interest lies in the services area, responsible for the construction and assembly of equipment. The appetite aims to occupy the space that was previously held by names like Odebrecht, Queiroz Galvão, OAS, and Engevix – some of the 18 companies that are prohibited, due to a precautionary blocking, from signing new contracts with Petrobras, due to involvement in irregularities revealed by the Lava Jato operation.

With the major companies out of the game, Petrobras itself began to seek new suppliers. The result was a 15% increase in the number of registered companies at the end of 2017, totaling 7,300. Of this total, 900 are foreign. Whether you speak well or badly of this new policy, only foreign oil companies have the credibility and expertise that the state-owned company needs at this moment. Source: Fabiana Oliveira, Contracts Manager Petrobras

ARTICLE CONTINUES BELOW

Oil Resurgence Attracts Foreign Companies

With Greater Participation of Foreign Companies Operating in Brazil and Rising Oil Prices, Experts Say the Moment Is Favorable for Our Economy

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