Geopolitics

Washington ready to help Brazil sell oil zones worth ca. $25.5bn

Donald Trump government is ready to help Brazil design more effective oil auctions, the U.S. secretary of energy Dan Brouillette said during a visit to Rio do Janeiro. In November, Brazil tried unsuccessfully to sell the rights to four offshore oil producing zones in a process that could have fetched some 106.5 billion reais ($25.5 billion) for Jair Bolsonaro’s government. Only two areas attracted bidders, both of which were consortia led by Petrobras.

Source: Reuters