Petrobras, Rio negotiate P-51 tax breaks
Bnamericas Published: Friday, December 19, 2003
Brazil's federal energy company Petrobras and Rio de Janeiro's state government are negotiating a reduction in the ICMS sales tax for the construction of the P-51 oil rig in the state, Agencia Brasil reported Petrobras services director Renato Duque as saying. The reduction could save US$130mn from the construction of the rig, estimated at around US$700mn. State governor Rosinha Garotinho asked Petrobras to continue a program to renew its fleet to create jobs in the state, she said in a statement. Garotinho and Duque were present at the construction launch of the P-52 oil rig at the Brasfels dockyard in Rio de Janeiro.
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