Monthly Archives - October 2017

Brazil Offshore Oil Drilling Rights Draw Interest at Auction

Brazil offered the world’s oil companies a chance to bid for drilling rights in its waters on Wednesday, and it declared the results encouraging. The bidding, the first of nine rounds, was considered a test of investor confidence in President Michel Temer’s free-market initiatives. But it was also a measure of the industry’s interest in tapping deepwater oil fields, among the most expensive to explore, at a time of low prices. More than 30 oil companies initially expressed interest in the [...]