Brazil Plans Oil Auction to Raise R$20 Billion Amid Fiscal Pressures

Brazil Plans Oil Auction to Raise R$20 Billion Amid Fiscal Pressures

The Brazilian government is preparing an extraordinary auction of pre-salt oil fields to address fiscal challenges and global economic uncertainties, Reuters reported. The auction, targeting smaller sections of the Tupi, Mero, and Atapu fields, aims to generate R$20 billion ($3.4 billion) in a worst-case scenario. This move comes as oil prices have fallen sharply, with […]

Oil Producers Seek to Shore up Finances Amid Crude Price Plunge - Energy News, Top Headlines, Commentaries, Features & Events

Summary • Brazil plans extra auction for offshore oil areas • Kuwait to tap international debt market for first time since 2017 • Russia’s economy expected to contract further from oil price decline • Saudi Arabia stands ready for policies to keep fiscal position strong: spokesperson April 11 (Reuters) – Oil-dependent governments are coming under ...

Brazil plans offshore oil auction amid fiscal pressures: here’s what we know

Brazil’s government is preparing to auction off stakes in offshore oil fields this year, focusing on uncontracted portions of its lucrative pre-salt deposits.According to Reuters, two sources familiar with the matter said the initiative serves both as a financial strategy and as a response to the shifting global economic landscape, which threatens Brazil’s fiscal stability.The auction will cover smaller, non-contracted sections of the major Tupi…