The Brazilian government is depending on a big payout from the sale of surplus Transfer of Rights acreage to help win approval for key economic reforms, especially a flagship overhaul of a public pensions system that is on the verge of collapse, writes Gareth Chetwynd.
To get this unpopular reform through congress, Economy Minister Paulo Guedes has signalled that the administration intends to share the rewards of the surplus oil auction with regional governments, several of which are involved in debt restructuring negotiations with the federal government.
