21.3.2019 | Legal Bulletin

Legal certainty and investments in the brazilian oil and gas industry

Three cases pending decision by Brazil’s highest courts are bound to have an impact on investment decisions in the oil and natural gas industries. The decisions will affect the sale of state-owned assets and the end of vertical integration in some segments. Although there is no date set yet, their adjudication should happen sooner rather than later.

21.3.2019 | Legal Bulletin

New steps into deregulating Brazil’s natural gas industry

Recent developments should lead to structural changes in the natural gas industry by increasing competition through the entry of new players. However, the lack of answers to some important questions could have an opposite effect and result in potentially higher market concentration and reduced attractiveness for new players and new investment.

21.3.2019 | Legal Bulletin

Welcome changes in downstream markets – and the risk of intervention by antitrust authorities

Petrobras’ plans to sell refineries should enhance competition in the downstream market and create investment opportunities. However, the good news may be hampered by initiatives taken by Brazil’s antitrust authority CADE, which might result in an ill-conceived forced divestiture of assets designed to undo vertical integration and foster competition.