Petroleo Brasileiro S.A. - Petrobras (PBR): How Will Shell (RDS.A) Stock Be Affected...

Petroleo Brasileiro S.A. - Petrobras (PBR)

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Thursday, 09/18/2014 5:55:03 PM

Thursday, September 18, 2014 5:55:03 PM

How Will Shell (RDS.A) Stock Be Affected By Brazil Legal Requirements?

TheStreet
09/18/14 - 04:45 PM EDT
NEW YORK (TheStreet) -- Royal Dutch Shell (RDS.A_) and Total (TOT_) were directed by Brazil's oil regulator to accept Petrobras (PBR) as a partner in their Gato Do Mato offshore oil prospect under new Brazilian law, Reuters reports.

That could strip Shell of operational control of the resource. Magda Chambriard, Brazil's director general of oil regulation, appeared to contradict recent comments made by Brazilian government lawyers.

On Tuesday the lawyers said recent ANP regulations would allow Shell to remain as operator - or lead partner - in the area despite the 2010 law, Reuters said
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With this socialist policies investors running scared.
We're talking about Shell. Siemre invested heavily in the region
I do not understand, who heads Petrobras? A monkey at the wheel?