Uncertainty dissipated about Brazil's 7th licensing round

Brazil's Mines and Energy Minister Dilma Rousseff has confirmed that Brazil's seventh oil and gas exploration licensing round would not be canceled. Her comments were made during a press conference earlier this month in Rio de Janeiro at the Rio Oil & Gas Expo 2004.Alvaro Teixeira, executive secretary of the Brazilian Petroleum and Gas Institute, which organized this year's conference, said that the oil sector was greatly relieved by the ministry's decision not to interrupt the licensing process."The ministry was considering canceling the seventh round for political reasons, linked to the maintenance of reserve-production relationship. If next year's round had been can...

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