Brick-and-mortar auction: pre-salt auction yields 21% less than expected.

Journalist Fernando Brito summarizes the country's situation regarding the pre-salt oil concession granted by Michel Temer's government: "The loser, of course, was Brazil. But so was the government, which collected less than expected – R$ 6,15 billion, 21% less than the R$ 7,75 billion it anticipated, and even less than what it projected yesterday in the National Treasury's results as a way to 'balance' the accounts within a deficit of R$ 159 billion. The report mentioned R$ 12 billion in revenue from oil concessions," he says.

October 27, 2017, 17:01 PMUpdated June 26, 2018, 15:08 pm

Journalist Fernando Brito summarizes the country's situation regarding the pre-salt oil concession granted by Michel Temer's government: "The loser, of course, was Brazil. But so was the government, which collected less than expected – R$ 6,15 billion, 21% less than the R$ 7,75 billion it anticipated, and even less than what it projected yesterday in the National Treasury's results as a way to 'balance' the accounts within a deficit of R$ 159 billion. The report mentioned R$ 12 billion in revenue from oil concessions," he says (Photo: Aquiles Lins).

By Fernando Brito, from brick - It wasn't a Chinese deal only because it was a Norwegian one, whose state-owned oil company, Statoil – associated with the American company Exxon – was the big winner of the criminal pre-salt auction held today, after the government overturned the injunction that prohibited the sale of oil areas. Statoil, which had already bought the Carcará field from Petrobras over the counter, acquired the surrounding area and will share a highly productive province with the Americans.

Petrobras remained a partner in the areas that most interested it: Peroba (adjacent to the Lula field, currently the largest in Brazil), the Sapinhoá Surroundings (which rivals the Lula field for the position of highest productivity in the pre-salt layer), and the Cabo Frio Highlands, still little explored but showing signs of immense potential. identified since 2011but leaving Shell as the operator of the block.

The loser, of course, was Brazil. But so was the government, which collected less than expected – R$ 6,15 billion, 21% less than the R$ 7,75 billion it anticipated and even less than it released yesterday. National Treasury result as a way to "balance" the books within a deficit of 159 billion. The report mentioned R$ 12 billion in revenue from oil concessions.

Now, appetites are turning to overturning the profit-sharing law, under which a portion of the extracted oil (sometimes as high as 80%) belongs to the Brazilian government, and reverting to the concession regime, which is not applied anywhere where there is strong certainty of oil potential.