Brazil Minister: Unclear For Now If Tighter Oil Drilling Rules Needed

6th Jul 2010 09:13

SHANGHAI (Dow Jones)--BP PLC's (BP.LN) oil spill in the Gulf of Mexico should be considered an accident and the Brazilian government will wait for results from investigations to see if more stringent regulations are needed in Brazil's offshore drilling sector, Marcio Zimmermann, Brazil's Mines and Energy Minister, said Tuesday. Brazil will be able to export 20 million barrels of oil a year by 2019, Zimmermann told reporters after attending an event at the World Expo. It has received $6-$7 billion out of a $10 billion oil-for-loan deal with China reached last year, he added. -Jing Yang contributed to this article; Dow Jones Newswires; (8621) 6120 1200; [email protected] (END) Dow Jones Newswires July 06, 2010 04:13 ET (08:13 GMT)