Economic regulation of petroleum sector in Brazil: ANP analysis of shares of the period 1997 to 2008

Abstract

The Brazilian oil sector during the 90s, underwent a significant change in function of relaxing the state monopoly, allowing the entry of private and state companies for the development of the entire production process oil. So, there was a need to regulate this sector, with the purpose of designing an efficient and competitive. Therefore, this study was to investigate and analyze the process of regulating the oil industry in the Brazilian context, from 1997 to 2008, through its regulatory agency, the National Agency of Petroleum, Natural Gas and Biofuels (ANP). As methodological procedure addressed the economic regulation in Brazil and the role of the regulatory agency of the oil sector, using data from this regulatory agency. Observed in the initial production of oil, exploration and oil production, the ANP regulates the entry of firms in this sector through a bidding process. The phase of transport and refining presented being less competitive, with the supervision of the ANP. In the final step distribution and resale there was highly competitive, with this regulatory agency monitoring the quality of petroleum products and prices in the market.