Brazil auctions offshore oil blocks

Brazil auctions offshore oil blocks

Economy & Policy Energy Gas Regulation Project & Infrastructure Finance Brazil

The Brazilian government has earned BRL8.9bn ($2.17bn) from the auctions of 12 offshore oil blocks, according to a statement from the National Petroleum Agency, or ANP. The record result "exceeded all expectations and shows that the policy for the oil and gas sector is on the right track and opens new prospects for the auctions that will happen this year," Mining and Energy Minister Bento Albuquerque said in a separate statement. In the largest bid, a consortium with Total, Qatar Petroleum and P

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