THE Brazilian oil sector is on hold, waiting to see if the strategic plan being prepared by Petrobras can offer a route back to sustainable growth and new opportunities.
The infamous Car Wash corruption case is already forcing a drastic change in the way the state-controlled company approaches its own governance and regulatory compliance.
The bribery scandal, which caused near paralysis in the domestic contracting process, has combined with lower oil prices and a credit crunch to whip up a perfect storm for the sector.
