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Local Content and Extractive Industry in Brazil

In: Sovereign Wealth Funds, Local Content Policies and CSR

Author

Listed:
  • Israel Lacerda Araújo

    (IEE, University of São Paulo)

  • Hirdan Katarina Medeiro Costa

    (IEE, University of São Paulo)

Abstract

Local content clause is the obligation of hiring a share of national goods, employment, as well as services in the exploration, development and production processes. If companies do not comply with this clause, they will incur a fine applied by government agents. The Brazilian oil and gas industry has used the local content clause since 2003. The clause and regulation is long, and the details allow the contractor to know each parameter before the bidding round, to be prepared, and to be aware of the penalty in case of disobeying. This chapter answers the following questions: (i) What are the main obligations related to local content in Brazil within the extractives resources industry? Are there any peculiarities? (ii) What are the main challenges that extractives resources are facing with regards to local content practices and local involvement? (iii) What are the best and worst experiences with local content requirements in the extractive resources sector in Brazil?

Suggested Citation

  • Israel Lacerda Araújo & Hirdan Katarina Medeiro Costa, 2021. "Local Content and Extractive Industry in Brazil," CSR, Sustainability, Ethics & Governance, in: Eduardo G. Pereira & Rochelle Spencer & Jonathon W. Moses (ed.), Sovereign Wealth Funds, Local Content Policies and CSR, pages 309-325, Springer.
    • Handle: RePEc:spr:csrchp:978-3-030-56092-8_17
    DOI: 10.1007/978-3-030-56092-8_17
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