BRAZIL: Government Preparing Additional Oil Auction To Raise Revenue
Apr-10 14:00
- Reuters reports that the government is preparing an extra auction of stakes in off-shore oil areas to raise additional revenue amid falling oil prices and tariff uncertainty, according to sources familiar with the matter. The sources said that the auction was seen as a way to offset potential revenue shortfalls due to factors beyond the government's control.
- The auction could be held as soon as September according to one source, with a draft bill sent to Congress shortly, which is expected to approve the measure.
- "*EXCLUSIVE-BRAZIL READIES EXTRA AUCTION OF STAKES IN OFFSHORE OIL AREAS TO BOOST REVENUE AMID FALLOUT FROM U.S. TARIFFS -SOURCES"
"*BRAZIL SEES POTENTIAL TO RAISE AROUND 20 BILLION REAIS FROM NEW PRE-SALT AUCTION IN "WORST CASE" SCENARIO -SOURCES" – Reuters
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