Brazil Aims to Raise $7.7B in Oil, Gas Auctions by 2019

Brazil Aims to Raise $7.7B in Oil, Gas Auctions by 2019
Brazil's government expects to raise at least 24 billion reais ($7.7 billion) in oil and gas auctions through 2019, Energy Ministry Executive Secretary Paulo Pedrosa said.

Reuters

RIO DE JANEIRO, April 3 (Reuters) - Brazil's government expects to raise at least 24 billion reais ($7.7 billion) in oil and gas auctions through 2019, Energy Ministry Executive Secretary Paulo Pedrosa said on Monday.

The auctions, which include presalt exploration areas, should raise at least 8.5 billion reais in 2017, Pedrosa said. Proceeds from the sale of distribution companies held by state energy holding company Centrais Eletricas Brasileiras SA , may be divided between the company, known as Eletrobras, and the federal Treasury, he said.

($1 = 3.11 reais) (Reporting by Rodrigo Viga Gaier; Writing by Ana Mano; Editing by Jeffrey Benkoe)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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