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LatinNews Daily - 11 October 2019

In brief: Brazil celebrates record oil tender

* Brazil’s national oil & gas regulator (ANP) has celebrated the record outcome of its 16th round of bidding for maritime oil exploration concessions, which collected R$8.9bn (US$2.16bn) in signing bonuses. Ten out of 11 bidding companies were successful, including Spain’s Repsol which acquired the concession for four blocks (one individually and three as part of a consortium) and Malaysia’s state-owned company Petronas, which for the first time individually acquired two blocks in the Campos basin. Despite the auction exceeding expectations, only 12 of the 36 blocks on offer were acquired, with none of the blocks in the Pernambuco-Paraíba, Camamu-Almada, and Jacuípe basins finding bidders. The minister for mines & energy, Bento Albuquerque, was very positive about the result of the bidding round: “The tender had a record in offered signature bonuses. This shows that policy for the oil and natural gas sector is on track and opens new prospects for the [bidding rounds to be held later this year].

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