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Brazil is counting on the oil majors to participate in the October auction for rights to develop...

Brazil is counting on the oil majors to participate in the October auction for rights to develop the huge Libra oil discovery that's expected to produce 1M-plus bbl/day by 2018. But companies would have to swallow hard: The government expects an upfront payment of at least 15B reais ($7B) from the winner, plus at least 40% of Libra's output after expenses for the government to sell on its own account.
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  • john001
    , contributor
    Comments (566) | Send Message
     
    RDS could get better returns by buying Tourmaline (TOU on tsx)
    5 Jul 2013, 02:21 PM Reply Like
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