Although the country is still host to about one-third of the world's offshore assets, its attraction as a private-banking centre has dwindled.

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That's since changed, with the pacification of dozens of Rio's "favela" hillside slums, the discovery of offshore oil deposits that have flooded the city with petrodollars and Rio's role as host for the 2014 soccer World Cup and the 2016 Olympic Games.

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So a whole host of different sources are going to be needed, and one of those sources is going to be offshore oil.

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