Brazilian Pre-salt Oil Auction Collects Only R$70 Billion; New Auction Today

The bidding round is deemed the highest in history. Fourteen private and state companies were eligible to take part, including Petrobras. Brazilian legislation provides that when pre-salt blocks are auctioned, Petrobras has the right to exercise preference.

RIO DE JANEIRO, BRAZIL - Regarded as the largest auction in the oil and gas sector in history, the Bidding Round of the Surplus Transfer of Rights was held yesterday, November 6th, in Rio de Janeiro by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

It was expected by the federal government and the regulatory agency that Subscribe to our Premium Membership Plan. Already Subscribed?