Brazil touts better terms in new bid round

Brazil's National Petroleum Agency (ANP) has made the terms for its second oil and gas exploration licensing round more flexible in order to attract smaller companies.ANP had responded to a flurry of complaints from companies that accompanied its first exploration licensing round (an article by an ANP official that begins on p. 78 details this response). Contracts were signed last month for 12 of the blocks awarded in that first round (OGJ, Oct. 4, 1999, Newsletter). Click here to enlarge imageThe greatest criticism was reserved for a hefty royalty rate schedule. ANP Executive Director David Zylbersztajn said that the agency is considering revising royalty rates: "The law is rather ha...

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