Petrobras May Be the Best New Partner In Brazil

Petrobras, presalt, deepwater, oil, Bbbl, offshore

Petrobras kicked off the year hoping to alleviate skyrocketing debt by meeting most of its divestment targets. Pedro Parente, the company’s recently appointed CEO, wants to raise US$20 billion by 2018 while also focusing on deepwater exploration.

In the midst of sweeping company restructuring, the federal government finally passed a bill that scraps Petrobras’ forced 30% participation in every presalt offshore block. With that, companies can dispense the state-owned company or partner with…