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Brazil lower house extends oil industry customs regime
November 30, 2017 / 1:06 AM / 15 days ago

Brazil lower house extends oil industry customs regime

BRASILIA, Nov 29 (Reuters) - Brazil’s lower house of Congress on Wednesday approved the basic text of a decree that extends for 20 years a preferential customs regime for the oil industry, a measure that has helped make the country attractive again to major global oil companies.

The chamber must still vote next week on several amendments to the decree, but the extension of the so-called Repetro scheme, which suspends export and import duties on goods used in oil exploration and production, is expected to move ahead to the Senate for final approval before the Dec. 15 expiry date. (Reporting by Anthony Boadle Editing by Sandra Maler)

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