LS Brazil Outlook Petrobras, fuels prices and competition in downstream markets Mar
2021

Petrobras, fuels prices and competition in downstream markets

Brazil’s downstream oil market is, at long last, headed for a fully competitive environment. This is the result of an agreement entered between Petrobras and antitrust authority CADE under which the state-owned oil company is to sell control over refineries representing half of its refining capacity. However, as the Bolsonaro administration has replaced the CEO of Petrobras amidst discomfort over the company’s pricing policies, doubts have now emerged as to whether the divestment plan will proceed.

This edition of LS Brazil Outlook discusses key aspects relating to this debate and the uncertainties surrounding the immediate future of Petrobras and the Brazilian downstream oil industry. 

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Article Lessons to Learn from Brazil’s Competition Law and Practice 22
Mar
2021

Lessons to Learn from Brazil’s Competition Law and Practice

Partner Ana Paula Martinez wrote the editorial of the current issue of the Journal of European Competition Law & Practice (Oxford)

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LS Brazil Outlook Is the oil really ours? 04
Mar
2021

Is the oil really ours?

The sale of some of Petrobras’s oil refineries will lead to an increase in competition in downstream markets. Will it also allow for lasting arrangements designed to mitigate volatility of fuels prices in Brazil?

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LS Brazil Outlook Petrobras, CADE and the divestment of oil refineries 04
Mar
2021

Petrobras, CADE and the divestment of oil refineries

Petrobras’s settlement agreement with CADE to sell 50% of its oil refining capacity is yet to be implemented. Will CADE be able to enforce this landmark deal?

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LS Brazil Outlook The revolution in Brazilian fuel markets 04
Mar
2021

The revolution in Brazilian fuel markets

Petrobras’s announced divestment of 8 of its oil refining plants will have lasting effects in the Brazilian downstream market. Our guest author Winston Fritsch, of Struttura Project Development and Finance, discusses the expected impact of this...

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LS Brazil Outlook Petrobras: change in command raises uncertainty with respect to divestment plans 04
Mar
2021

Petrobras: change in command raises uncertainty with respect to divestment plans

The change in command at Petrobras has led to speculation as to whether the company’s programmed divestment of its refineries will still be pursued. This article summarizes what we know about where the divestment plan stands today.

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LS Brazil Outlook Salvaging the Amazon Fund 15
Jan
2021

Salvaging the Amazon Fund

The Amazon Fund is in crisis after many authorities worldwide suspended donations in response to changes implemented to its governance structure. We suggest a path towards salvaging the fund which revisits the role of Brazil’s Federal Audit...

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LS Brazil Outlook Environmental liability in Brazil: barriers for out-of-court settlements 15
Jan
2021

Environmental liability in Brazil: barriers for out-of-court settlements

Out-of-court settlements can be effective in resolving environmental liabilities and avoiding usually complex litigation. However, existing procedural and bureaucratic barriers must be removed to make such settlements more viable in Brazil

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LS Brazil Outlook Energy market in Brazil: opportunities for self-regulation and ESG 15
Jan
2021

Energy market in Brazil: opportunities for self-regulation and ESG

The increasing need for energy and a new window of investment and growth opportunities in the Brazilian energy market bring to the foreground the debate on the ideal regulatory framework. We discuss the opportunities for self-regulation and...

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LS Brazil Outlook Environment under the spotlight: reconciling protection and progress 15
Jan
2021

Environment under the spotlight: reconciling protection and progress

Controversial public policies on matters affecting the environment are placing Brazil as a central character in the environmental stage, raising new concerns and opportunities for businesses carrying out activities in the country. This January...

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Article Lawyer Marjorie Afonso authors an article on the failing firm defense 13
Jan
2021

Lawyer Marjorie Afonso authors an article on the failing firm defense

The article proves that the merger is the best alternative for leaving the market

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LS Brazil Outlook Brazil’s 5G spectrum auction: obstacles ahead 17
Dec
2020

Brazil’s 5G spectrum auction: obstacles ahead

Uncertainty remains as to whether the Brazilian administration will bar certain technologies available to service providers in the upcoming 5G spectrum auction. Recently, telecom operators in Brazil have taken the stance that restrictions resulting...

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LS Brazil Outlook National security v. free competition 17
Dec
2020

National security v. free competition

Brazilian law lacks a broad national security exception that would allow the administration to bar the use of a specific 5G technology based on its country of origin. Requirements applicable to 5G technology in Brazil should, under the current...

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