A Brazilian government proposal for exploiting recent deep-water oil discoveries calls for direct state control and is expected to give a key role to oil company Petroleo Brasileiro SA.
The new plan follows the discovery off Brazil's coast of giant pools of oil. They are among the largest petroleum finds in recent years, and could make Brazil into a significant energy exporter.
Brazil's government plans to greatly increase its role in managing huge deep-water oil finds off the coast. Details leaked in recent weeks indicate that Brazil will adopt a strategy common in the Middle East and other major oil-producing regions, in which companies sign production-sharing deals that give most of the barrels to the host government.
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