Brazil far-right candidate could revise pre-salt oil contracts: report
OCTOBER 15, 2018 / 5:37 PM / UPDATED 8 HOURS AGO
RIO DE JANEIRO (Reuters) - Brazil’s far-right presidential front-runner Jair Bolsonaro could revise the country’s model of production-sharing contracts in its coveted pre-salt oil fields if he wins this month’s election, newspaper Valor reported on Monday.
The poll leader ahead of the Oct. 28 run-off vote could also end overseas financing by state development bank BNDES, Valor reported, citing unnamed campaign sources, as Bolsonaro looks to overhaul the country’s state-run entities.
A longstanding advocate of state control over key strategic assets like government-run Petroleo Brasileiro SA and Centrais Eletricas Brasileiras SA, Bolsonaro has recently changed tack, falling more closely in line with key advisors who favor privatizing assets.
But a rival camp of advisors, made up of military generals, have urged Bolsonaro to maintain control of Petrobras and other assets they consider strategic, Reuters reported last week, opening up a split that could disappoint investors who snapped up Petrobras shares in the wake of Bolsonaro’s first-round win.
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