February 28, 2020 / 3:38 PM / a month ago

Brazil may push second shot at huge offshore oil auction to 2021

RIO DE JANEIRO, Feb 28 (Reuters) - Brazil’s government is unlikely to auction the remaining production rights 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. (Reporting by Rodrigo Viga Gaier Writing by Gram Slattery)

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