Financial Times FT.com

Lula’s new lucre: Brazil may keep full control of offshore oil

By Jonathan Wheatley and Carola Hoyos

Published: September 10 2008 19:58 | Last updated: September 10 2008 19:58

It was a day rich in symbolism. On an oil platform off the Brazilian coast, President Luiz Inácio Lula da Silva this month dipped his hands into the first crude to flow from promising reserves discovered in the country’s waters.

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