Brazil round draws $220 million from 19 bidders for 154 blocks

09/06/2004
Brazil's sixth oil and gas licensing round began under heavy stress for representatives of the 24 qualified companies due to an injunction of a supreme court justice that would have suspended concession holders' rights to the oil they find in exploration blocks.As the round was starting, the president of the court, Nelson Jobim, suspended the injunction but said that the court's 11 members would meet in a plenary session at an undecided date to discuss the matter. The injunction was granted to Roberto Requião, governor of the southern state of Paraná, who argued that the round was unconstitutional (OGJ Online, Aug. 13, 2004)."Since contracts will be signed in Decembe...
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