There is one attempt to approach a vast range reflects the weakness of Brazil, which led the state

There is one attempt to approach a vast range reflects the weakness of Brazil, which led the state to develop its oil reserves October 26, 2013 | São Paulo | from the print version
Six years after the discovery of giant offshore "pre-sal" oil deposits, so-called because they are located under a thick layer of salt under the ocean floor, Brazil may sell at public auction at the end of the right to develop some of the world's wealth has been. October 21 Libra field, sold off the coast of Rio de Janeiro sme (see map), a consortium led by Petrobras, the oil company controlled by the Brazilian state, including students, Shell France, the CNOOC British-Dutch owned by the Chinese state and the China National Petroleum Corporation. in the balance of the estimated 8 billion - 12 billion barrels of recoverable oil is the greatest potential for oil worldwide to be auctioned this year. when production reaches its peak sometime in the next decade, and production in Brazil should increase from 2.1 million to approximately 3.5M barrels per day.
Sometimes just having an auction like Italian. marked a series of legal challenges unsuccessful period before. also set up at a hotel on the beach in Rio, and soldiers outside the used rubber bullets and tear gas to keep the strike of oil workers' union activists anarchists masked and opponents of private sector sme participation in the oil sector. Hundreds of soldiers formed a human chain to the edge of the water, sunbathers and surfers tips confusion aside. warning that trouble is likely, Dilma Rousseff, who planned to attend, instead I watched via closed circuit television from the presidential palace in Brasilia.
The presence of Shell and Total consortium sme winner allowed the government to announce a successful auction. , But even though sme it was expected to more than 40 companies registered sme to participate, but I did 11. , And although it was expected to be at least six consortia to bid, offer, winning the qualifying limit the minimum, sme and only made. The lack of competition was a let down after the euphoria of it years ago, when he described the day President, Luiz Inacio Lula da Silva, before Sal sees as a "lottery ticket winner." sme During the long wait and the rewrite rules are different auction and the federal government and local communities on how to share the revenue in the end, shale gas displaced by the SAL as potential energy in the world is exciting. evaporated most of the attention of the private sme sector. was not BG, BP, Chevron and Exxon, which spent heavily in Brazil, and registered to bid.
Even so, the results came as a relief to Petrobras auction. rise of nationalism resources to address the government Sal gets tips rework the auction rules, which applied because the company is part of the privatization and lost its monopoly on the national in the late 1990s. instead of each company to compete sme on an equal footing, we have now all run Petrobras PRE-SAL sme blocks, with other companies taking in most of the financial issue of 70%. once in a consortium of oil sold enough to offset their costs, profits are split with the government. Bidder sme should deliver in the biggest share of the "profit oil" wins.
The government's objective is to avoid selling PRE-Sal rights too cheap. Drilling is transformed through thick layers of salt corrosion and greatly expensive, and the development sme of the balance will cost about 400 billion riyals (184 billion dollars) over the next 35 years, but before Sal is so vast deposits The exploration risk and are believed to be very low, you should be willing to pay companies with generous because the development rights. However, perhaps the simplest is just to raise taxes on production: Credit Suisse, a bank, says that trying to balance the holder to pay 41.65% in "profit oil" will result in three quarters The range of value goes to the government coffers sme when taxes are taken into account, and a little more of the total to about 70% of the rules