Summary:

This thesis aims to shed some light on what challenges Brazil faces concerning its
oil reserves. It also considers Statoil’s situation and attempts to analyse the
challenges both face. Hotelling’s rule and Dunning’s OLI framework are presented
and used in order to complete this analysis.
The thesis starts by looking at the history of petroleum in Brazil and Norway.
Next, the theoretical framework is outlined.
The challenges for both Brazil and Statoil are presented and analysed through the
use of the theories presented. Finally, some future prospects are outlined.