October 6, 2016 / 12:18 AM / 2 years ago

REFILE-Brazil's Congress passes bill reducing Petrobras subsalt role

BRASILIA, Oct 5 (Reuters) - Brazil’s lower chamber of Congress approved the main points of a bill on Wednesday removing a requirement that state-led oil company Petrobras be the sole operator of vast offshore oil reserves in the costly subsalt layer with a minimum 30 percent stake in their development.

The bill, which could be amended in the future, is aimed at boosting private investment in Brazil’s oil industry. The legislation has already been approved by the Senate. (Reporting by Anthony Boadle and Maria Carolina Marcello; Editing by Daniel Flynn and Ana Mano)

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