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Analysis: Why the world doesn’t want to explore for oil in Brazil

RIO DE JANEIRO, BRAZIL - The government didn't want to admit that foreign companies have no interest in buying fields near environmental protection areas. And it was punished with the shameful disaster of the recent ANP auction, writes Alexander Busch*.

It was a great humiliation for the government: in the 17th round of bidding for oil and gas exploration areas, the National Petroleum Agency (ANP) offered investors 92 concession blocks.

But only five blocs were acquired - abd by only two companies. Shell andSubscribe to our Premium Membership Plan. Already Subscribed?

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