Petrobras and EWZ have struggled with Rousseff leading Latin America’s largest economy despite over favoritism to the oil giant that allows it to control essentially all of the wells at Brazil’s highly sought after (and bountiful) pre-salt fields.
Under previous regimes, including Rousseff’s, Brazil has mandated that Petrobras be the only or primary operator at the country’s most desirable oil finds. Some analysts and market observers expect Neves to alter that policy.
Neves has promised “to auction exploration licenses more frequently, raise fuel prices and ease made-in-Brazil requirements mirror recommendations from the industry,” report Sabrina Valle and Juan Pablo Spinetto for Bloomberg.
iShares MSCI Brazil Capped ETF
