Brazil’s government is unlikely to auction the remaining production rights to the “transfer-of-rights” (TOR) offshore oil zone until 2021, Economy Ministry Subsecretary Waldery Rodrigues told Reuters on Friday.
The TOR area is a prolific oil-producing region off the Brazilian coast. The government auctioned production rights to two of its subdivisions in November, but two others failed to attract a bidder.
Brazil Energy Insight 
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