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Weekly Report - 24 October 2013 (WR-13-42)
BRAZIL: Government hails Libra auction
Of the many claims made by government officials following the auction of the drilling rights to Libra, the massive offshore oil field, this was the most effusive: “We have turned a page in history, we’re on a path to the first world. Libra is a source of wealth which will change the country, the economy, the people”, Augusto Mendonça, president of the Brazilian association of naval construction and offshore companies (Abenav), said. Certainly the government had cause for celebration. Confounding expectations of low levels of international interest, and fears of widespread popular protest, the auction proved a success, with the winner, and only bidder, a consortium featuring several of the world’s top oil companies.
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