Brazil sells dam operating licenses for $3.8 billion to foreign bidders

Brazil’s government on Wednesday sold licenses to operate four hydroelectric dams for a total of $3.80 billion in an auction won by Chinese and European bidders, including France’s Engie and Italy’s Enel. The amount raised is 10.1 percent above the minimum asking price the government had set. Reuters reports. Exxon Mobil bets on Brazil, buys 10 oil blocks in auction Exxon Mobil vastly expanded its presence in Brazil on Wednesday, winning 10 blocks in the country’s 14th round of bidding for oil exploration and production rights, helping the cash-strapped nation fetch a record $1.19 billion. The results came as a surprise after Brazil’s oil regulator ANP managed to sell just one of 76 blocks on offer in the highly productive […]

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