Exxon's Big Bet on Brazil Oil Could Signal Major Pre-salt Role



Exxon's Big Bet on Brazil Oil Could Signal Major Pre-salt Role
Exxon has spent heavily this year on oil and natural gas expansion projects to replenish its diminishing reserves.

But a series of policy changes under market-friendly President Michel Temer, including a reduction of requirements that forced foreign businesses to use local partners, will likely tempt investors to return to Latin America's no.1 economy, analysts said. ($1 = 3.1822 reais)

(Additional reporting by Marianna Parraga; Editing by Christian Plumb and Rosalba O'Brien)


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