Moretti: We made a decision not to hold an oil auction this year

The Minister of Budget and Planning, Bruno Moretti, stated that the government has given up on holding an oil auction this year in areas adjacent to fields already in production in the pre-salt.

The speech was made at the press conference presenting the RARDP (Primary Income and Expense Assessment Report) for the 2nd two months, this Friday (22).

According to the minister, the government even removed the projected R$31 billion in gains from these auctions from the unmanaged revenue forecast.

"We are fully removing the gains from the oil auction from the revenue forecast. For this exercise, in the midst of war and price fluctuations, it was not the best decision for us to auction these areas, and we decided to re-discuss it in other exercises", explained the minister.

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Source: CNN