Brazil’s Rousseff Set to Privatize Libra Oil Field, Largest Oil Reserves in Country

via The Real News Network:

“On October 21, 2013, the National Petroleum Agency auctioned the Libra field, the largest oil reserves in Brazil. The Brazilian oil company PetrobrĂ¡s formed a consortium with CNPC and CNOOC from China, Royal Dutch Shell from Netherlands, and Total oil from France. Only one bid was placed, and the consortium won the auction.

In the Libra field lays 12 billion barrels of oil, which could generate profit up to $1 trillion in 20 years. This could also place Brazil as one of the world’s largest oil producers.

In 2010, Dilma Rousseff, then presidential candidate, won a good share of votes by claiming that her opponent, Jose Serra, had intentions to privatize the Brazilian oil. […]

Only three years later, Dilma Rousseff has changed her position, and critics say she will not only allow the private companies to exploit oil, but she does it in a very unfavorable way for the Brazilian people.”