The Ministry of Mines and Energy of Brazil expects to collect at least US$47bn in signing bonuses from three offshore oil auctions to be held on 10 October 2019, 27 October 2019 and 7 November 2019. The 27 October sale of production rights in offshore transfer-of-rights areas could raise up to BRL106bn (US$27bn) in signing bonuses, while the other bidding rounds could raise BRL 80bn (US$20bn).
The national energy policy council (CNPE) will soon set strategic guidelines for the refining sector, after state-owned oil group Petrobras announced plans to sell eight Brazilian refineries for around US$20bn and to focus on its upstream activities.
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