BRAZIL'S mega-round featuring surplus volumes in the Transfer of Rights (ToR) area ended with mixed results for the Brazilian government. A record-breaking 70 billion reais ($17.5 billion) was raised in signature bonuses, but the round failed to attract competition and received no bids for two of the four fields on offer. As widely expected, state-controlled oil company Petrobras played its part and bagged the two areas for which it had previously exercised preferential bidding rights — Buzios and Itapu.
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