& Tobago

Very usefull links


News links




Dow Jones

Oil price



Views and News




Brazil energy council CNPE approves sixth round pre-salt oil auction



By Reuters

Petroleumworld 12 18 2018

The Brazilian energy advisory council on Monday approved the sixth-round auction for Brazil's coveted pre-salt offshore oil area to be held next year, the energy ministry said.

The auction will include the two new blocks of Southwest Sagittarius and Brava Norte in addition to the previously considered three of Aram, Southern Cross and Boomerang, the ministry said. Southern Cross is a combination of the former Southeast Lula and the South and Southwest Jupiter blocks.

The statement confirmed an earlier report by Reuters citing a person familiar with the matter. The auction is scheduled for Nov. 1, 2019, the source said, on condition of anonymity.

Global oil companies have spent billions of dollars to lock down 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 its 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.

The National Council for Energy Policy (CNPE) is studying two more pre-salt rounds for 2020 and 2021 with a seventh round potentially including the Emerald, Agate and Sea Water blocks and an eight that could include the Tupinamba, Jade, Amethyst and Tourmaline blocks.

CNPE additionally approved a 16th-round auction of oil areas under the concession regime for October 2019, the ministry said. The person familiar with the decision said it was to be held on Oct. 2, 2019.

That round will include 42 blocks in seven areas of five different basins, covering a total area of nearly 30,000 square kilometers, the ministry said.

The council did not discuss a prospective auction of surplus oil volumes from the so-called transfer-of-rights oil area in the Santos Basin at the meeting, the source said. The area has been the subject of a dispute between the government and state-run Petrobras since the oil company signed a contract on it in 2010.



We invite you to join us as a sponsor. Circulated Videos, Articles, Opinions and Reports which carry your name and brand are used to target Entrepreneurs through our site, promoting your organization’s services. The opportunity is to insert in our stories pages short attention-grabbing videos, or to publish your own feature stories.

Hit your target - Advertise with us

PW 300.000 plus request per week

Reporting by Marta Nogueira Writing by Jake Spring Editing by Chizu Nomiyama from Reuters.

12 17 2018

Copyright© 1999-2018 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1



Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld   / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.