UPDATE 1-Brazil energy council approves sixth round pre-salt oil auction -source [Reuters]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Reuters
UPDATE 1-Brazil energy council approves sixth round pre-salt oil auction -source | Reuters 2 Min Read (Adds context, details) By Marta Nogueira RIO DE JANEIRO, Dec 17 (Reuters) - Brazil’s National Council for Energy Policy (CNPE) in a meeting on Monday approved the sixth-round auction for the country’s pre-salt offshore oil area to be held on Nov. 1, 2019, a person with knowledge of the matter told Reuters. Global oil companies have spent billions of dollars to lock down coveted blocks in the area, where billions of barrels of oil are trapped under a layer of salt offshore. Brazil’s election of far-right President-elect Jair Bolsonaro has called into question the future of Brazil’s pre-salt oil auctions, with sources telling Reuters last month that his government could seek to switch to concession contracts for the areas instead of the current production-sharing agreements. The future chief of Petroleo Brasileiro SA under Bolsonaro has said a decision has not been made on the matter.
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