Aug 19, 2020

The National Energy Policy Council (CNPE) approved the realization of the 17th and 18th bidding rounds in the years 2021 and 2022, respectively. The auctions would be held this year and next, but were postponed due to the crisis triggered by Covid-19 and the drop in world oil demand.

In addition, the board also deliberated on other issues, such as the extension of concession contracts. The CNPE gave its approval for the National Petroleum Agency (ANP) to increase the duration of the concession contracts signed as of the 1st Round.

The Council also decided on new mandatory annual targets for reducing greenhouse gas emissions for the sale of fuels under the National Biofuels Policy (RenovaBio). “The goals are defined in Decarbonisation Credit Units (CBIO) and considered the recent impacts of the COVID-19 pandemic on the fuel market in the short and medium term. Consequently, RenovaBio’s emission reduction targets followed this movement, as well as the targets defined for the year 2020 ”, explained the Ministry of Mines and Energy (MME), in a statement.

Finally, the collegiate also authorized the second phase of the Program for the Revitalization of Oil and Natural Gas Exploration and Production Activities in Land Areas (REATE 2020). State discussion forums, called REATE Mesa, will also be created to discuss solutions to challenges related to the terrestrial oil and natural gas chain at the state level and the creation of a better business environment.

Source: PetroNoticias

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