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3/8/2010 - BILL TO CAPITALIZE PETROBRAS MOVES FORWARD IN BRAZILIAN LEGISLATURE |
| Moving forward with key measures to expedite the production of subsalt oil reserves offshore Brazil, the county’s lower house approved the basic wording of a bill intended to capitalize Petrobras. The bill would see the government forgo the initial five billion barrels of oil, which will provide Petrobras with the opportunity to make a subsequent share issue. The bill still requires the approval of the Brazilian Senate, which is expected to vote on the measure later this year. |
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