James Regan

Brasil Massive $25 Billion Block Auctions Move Ahead

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Fantastic news for Brasil's slightly bewildered oil plays, Brasil has finally cottoned onto the fact that if they dont move and get this nasty crude out of the ground by 2050 it will remain fossilised, lets get back to work.

https://oilprice.com/Latest-Energy-News/World-News/Brazils-Huge-25-Billion-Oil-Auction-Clear-Very-Important-Hurdle.html

The section that was approved will now become law.

Brazil’s auction is expected to rake in 106 billion reais, or $25.5 billion for the government.

The auction will seek to sell oil blocks in the presalt zone off the coast of Brasil that had originally been given to state-run Petrobras to take 5 billion barrels of oil from those fields. Now, international oil companies will be able to bid on the production rigs in this same area.

Brasil is home to billions in oil reserves, about 90% of which lie offshore in Deepwater  

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I'm very happy you spell Brazil with an S

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1 minute ago, DayTrader said:

I'm very happy you spell Brazil with an S

Quite funny really as I was called pompous idiot by that asshole M Rauch, you remember him he drinks the ethanol kool-aid? 

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Yeah I remember. The Amish guy right?

image.png.a522fafe19267b4c2ce2a27a6783da9f.png

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