Reuters, 09/19/2012
The 11th round of auctions for oil exploration rights in Brazil will be held in 2013, if Congress passes the new royalties law, Brazil’s Energy Minister Edison Lobao said on Tuesday.
The 174 blocks to be offered for exploration in Brazil’s first auction since 2008 will be detailed in coming days, but most of them are located on land, Loboa said at a news conference.
He said he expects the final component of Brazil’s new oil law to pass Congress this year. Brazil is reforming the way it divides lucrative oil royalties among states, which have delayed passage of the law for years now.
