Brazil Far-Right Presidential Candidate Could Revise Pre-Salt Oil Contracts

Brazil’s far-right presidential front-runner Jair Bolsonaro could revise the country’s model of production-sharing contracts in its coveted pre-salt oil fields if he wins this month’s election, newspaper Valor reported on Monday. The poll leader ahead of the Oct. 28 run-off vote could also end overseas financing by state development bank BNDES, Valor reported, citing unnamed campaign sources, as Bolsonaro looks to overhaul the country’s state-run entities. A longstanding advocate of state control over key strategic assets like government-run Petroleo Brasileiro SA and Centrais Eletricas Brasileiras SA, Bolsonaro has recently changed tack, falling more closely in line with key advisors who favor privatizing assets. More…