OPINION: Brazil’s plans to sell off production rights to oil deemed “surplus” to the 5 billion barrels at the centre of a 2010 transfer of rights agreement with Petrobras has been described as the biggest offering of its kind ever seen.
This billing is not as exaggerated as it sounds, with billions of barrels of oil available on fields that have already begun producing, but Brazil must be careful not to believe its own hype.
