(Petrobras, 27.Dec.2019) — Petrobras today made the final payments in the amount of R$ 34.191 billion (thirty four billion one hundred and ninety one million reais), referring to the bidding rounds of the Transfer of Rights (TOR) surplus, Buzios and Itapú areas, 16th round under Concession Regime, block CM-477, and […]
Tag: Búzios
Brazil Tender Disappoints
(Reuters, Gram Slattery, Marta Nogueira, Marianna Parraga, 6.Nov.2019) — Brazil’s biggest-ever oil auction frustrated expectations on Wednesday, as high prices and the dominant role of state-run oil company Petrobras scared off global oil majors. Petroleo Brasileiro SA, as the Brazilian firm is also known, and Chinese state firms CNOOC and […]
TOR Record R$70bn Bonuses
(ANP, 6.Nov.2019) — The Transfer of Rights Surplus Bidding Round, held today (November 6) by ANP, had two of the four areas on offer acquired (Búzios and Itapu), generating R$ 69.96 billion in signature bonus. This amount is a record and represents a value higher than the sum of all […]
Major Disappointment In Brazil’s Surplus Round
(Welligence, 6.Nov.2019) — Brazil’s Surplus Transfer of Rights round (6th November 2019), the biggest resource opportunity of the year globally, has ended in huge disappointment. Only two (Buzios and Itapu) of the four opportunities on offer were taken, there was no competition, no participation from the Majors, and the cash […]
Brazil’s $50bn Oil Boom Is Falling Apart
(Oilprice.com Julianne Geiger, 31.Oct.2019) — Exxon may not be interested in stepping up to the bidding plate at Brazil’s massive $50 billion transfer of rights auction next week, because the oilfields up for grabs come with a hefty price tag, Exxon’s president of exploration, Stephen Greenlee said in an interview […]