November 12, 2019 / 6:23 PM / a month ago

Brazil to change terms for pre-salt oil areas upcoming auctions: government

RIO DE JANEIRO (Reuters) - Brazil’s government might change certain terms for pre-salt areas that did not receive bids in the oil auction last week, including signature bonuses, Martha Seillier, special secretary for the PPI government program, said on Tuesday.

Her remarks come a week after Brazil’s biggest-ever oil auction failed to live up to expectations on November 6, as high prices and the dominant role of state-run oil company Petrobras scared off global oil majors.

Reporting by Rodrigo Viga Gaier, writing by Gabriela Mello

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