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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (101631)	5/27/2008 2:47:28 AM
From: t4texas	Read Replies (4) \| Respond to of 206092

i don't understand much of anything you wrote. i hope you can just address the state-owned part of pbr that you wrote is not state owned. here is what one finds at the pbr website in english. it states the same in portugese. i was simply asking you how brazil would avoid the corruption problems with its oil monopoly that mexico has been unable to do with pemex. » Law 2.004 On October 3, 1953, Law 2,004 was sanctioned, which established the government's monopoly in all the oil sector's integral activities: Surveying and mining of oil wells and other fluid hydrocarbons and rare gases in national territory; Refining of domestically produced or imported oil; The transport by sea of domestically produced crude oil and imported oil products; Transport, by means of pipelines, of crude oil and its by-products as well as rare gases from whatever origin. Law 2,004 would also establish that the government was authorized to set up Petróleo Brasileiro S.A. - Petrobras, as a state-owned oil company to run this monopoly, including all activities related to those areas falling under the monopoly. In this way, Petrobras was founded on March 12th, 1954, during the 82nd Extraordinary Session of the CNP. On April 2nd, 1954, the government approved the decision in Decree Nº 35,308. www2.petrobras.com.br