Brazil’s 14th licensing round of exploration and production concessions, held this week, started slowly but ended with a bang, writes Gareth Chetwynd.
A cash-strapped government has moved decisively over the last year to make the event more attractive, mindful of lower oil prices and competition from Mexico.
There was patchy bidding for onshore areas, a snub for the frontier offshore Pelotas basin and a near-flop in the southern Santos basin, prompting talk of failure, before things hotted up.
