Petrobras sees tougher drilling rules

Petrobras president Sergio Gabrielli delivers a speech announcing the 2008-2012 Business Plan, 14 August 2007, during a press conference in Rio de Janeiro, Brazil. Gabrielli announced that the Brazilian oil company will have a stronger international presence, be a reference in the Bio Energy area and also be environmentally responsible. AFP PHOTO/ANTONIO SCORZA

Petrobras chief: Jose Sergio Gabrielli

ANTONIO SCORZA

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By News Wires

 22 June 2010 15:47 GMT

Petrobras said today that Brazilian regulators could tighten offshore drilling standards in its home country following BP's oil spill in the Gulf of Mexico.



British oil company BP's Gulf of Mexico spill would probably force regulators in Brazil to reassess safety standards, Petrobras boss Sergio Gabrielli told analysts in a conference call.

His comments come as Petrobras is undertaking the world's most ambitious offshore drilling programme over the next five years, which includes a $119 billion exploration and production investment programme, and preparing to carry out one of the world's biggest share offerings to pay for it, Reuters reported.

"We can probably expect some increase in regulations and more demanding requirements from regulators," Gabrielli said…

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