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Ecological doubts, pipeline shortage, undercut Brazil Natgas bid

2013-11-28 13:10:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: A lack of pipelines and access to drilling equipment as well as unclear environmental rules restricted bidding at Brazil's latest oil and natural gas rights auction to less than a third of the 240 on-shore areas offered, industry officials said on Thursday. Brazil's state-run oil company, Petroleo Brasileiro SA, also known as Petrobras (PETR4.SA), dominated bidding at the sale by taking stakes in 49 of the 72 blocks sold and agreeing to pay 73 percent of the 165.2 million reais (43.4 million pounds)...

Tags: brazil bid ecological pipeline

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