Environmental permit delays are likely to set back the Brazilian offshore drilling activities of French oil company Total SA by about a year.
Total, which has stakes in 13 Brazilian offshore blocks and runs drilling activities in seven of them, is grappling with the a slow environmental approval process that has become a recurring complaint for many in the industry.
"Environmental licensing takes a long time. Drilling will only take place in 2016 or 2017. Licensing makes things a little harder ... exploration and production is a long-term job, that takes a long time in general."
Oil prices have fallen to their lowest levels in six years, prompting oil firms to seek cut costs and improved efficiency. Lower prices could force oil companies to reconsider some investments. Even so, Brazil continues to be a "priority" for Total.And so it goes. It's always something.