Offshore exploration has been a rare bright spot for the global oil and gas industry lately. Some of the movement in the offshore sector is coming as governments get more accommodating — in an attempt to spur drilling and increase revenues at a time when drilling is down across the world. With this week’s news about the big changes to Brazil’s petroleum laws being a prime example. Big players like Shell are already moving to take advantage of this shift in Brazil. Announcing that they are moving ahead with the development of the 8 billion-barrel Libra pre-salt field here. And Brazilian officials reported late this week that the shift to 100% foreign ownership is having a wider effect. With Petrobras CEO Pedro Parente telling the press that international firms began contacting him about opportunities on the same day that Brazil’s Congress voted to change the laws. And it’s not […]