Petrobras' overwhelmed suppliers reportedly seek waiver on Asia help

Petrobras' (PBR -1.5%) vessel suppliers reportedly are urging Brazil to ease limits on foreign-built equipment as orders from the company fall behind schedule at local yards.

A group of shipbuilders met with government officials last week to propose changes to national content rules that would allow them to have more construction and engineering work done in Asia, according to a Bloomberg report.

PBR is counting on the delivery of floating platforms and drillships to develop big offshore oil finds and double output by 2020, but most Brazilian companies hired to supply the units aren’t fully capable of building them after shipyard construction delays and cost overruns.

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