Brazilian President Dilma Rousseff said on Aug. 13 she will "fight to the end" to maintain Brazil's oil production-sharing regime in its off-shore Subsalt Polygon area.
In the wake of a corruption scandal, Petroleo Brasileiro SA's large debt and weak financial position limit its ability to meet a requirement it finance a minimum 30 percent of all new subsalt projects and run them as formal operator, reducing the chance the giant resource will be developed, critics say.
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