Uncategorized

Senate approves vote for project that allows mega oil auction – Onerous Assignment

Proposal should be voted on November 27

BRASÍLIA – The Senate is expected to vote later this month on a bill that makes it possible to revise a contract between the federal government and Petrobras over pre-salt areas and allows a mega-oil auction, with potential to raise up to R $ 100 billion . Senators on Wednesday approved an urgent request for the proposal, and marked the vote on the merits of the text for the 27th.

Initially, the project only allowed Petrobras to sell up to 70% of its stake in the Onerous Assignment fields (agreement by which the company acquired the right to explore five billion barrels of oil from the pre-salt layer in the Santos Basin). In the Chamber, where it was already approved, the text was expanded and incorporated articles to make viable the agreement and the auction.

The president-elect’s economic team is counting on the bidding to close public accounts in blue next year.

The problem is that the government can only do the bid after the renegotiation of the contract with Petrobras. This update was already foreseen and the talks between Goverment and Petrobras have been dragging on for months. Petrobras must become creditor in this dispute.

The proposal also exempts the consortia of which Petrobras participates to follow the rules of the State Company Law for the purchase of items, products and services. This frees consortiums for acquisitions by inviting a list of suppliers – not for bidding, as determined by the law today.

Source: Globo

Categories: Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s