A Brazilian Senate committee cleared the way for what may be a record-setting offshore oil rights auction on Tuesday, approving a government deal with state-run oil company Petroleo Brasileiro SA to settle a years-old dispute.
The full Senate is also expected to vote later on Tuesday on the bill on dividing proceeds from the blockbuster “transfer of rights” oil auction scheduled for November, upholding a lower house of parliament ruling.
Brazil Energy Insight 
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