New rule of TCU puts obstacle to the sale of pre-salt

New Union rule hinders the progress of the auction for the sale of pre-salt fields that year. The bidding was prescheduled to happen on November 29th and could generate up to R $100 billion to the public coffers. But in decision making last week, the TCU changed the progress of the negotiations on the privatisation of the pre-salt sale and passed and require the submission of an extract with all the information in advance at least 150 days from the date of publication of the Edict. The measure determines that the submission of the data is made at least six months before the date set for the dispute.

In this data, the executive shall send to the organ an ' ' extract of the planned privatization planning, in which the description of the object is recorded; Estimate of the value of investments; its relevance; Location and respective bidding schedule.

The auction depends on an agreement between the Union and Petrobras to be carried out, around the contract of the costly assignment (agreement granting the State the right to exploit five billion barrels in the pre-salt layer). In the traded camps, there is more oil than the right volume with the union, which is precisely what the government wants to auction.

In order to reach an agreement with Petrobras and to promote the auction, the government should approve in Congress a bill that gives guidelines for bidding and negotiations. The main text of the proposal was approved in the House last week, and members still need to review the highlights to send the text to the Senate.

Even if the government sent the information to TCU today, the same could only be published in the edict on November 26th. Between the publication of the Edict and the realization of the auction, the standard interval followed by the government is 45 days. That is, even if the procedure was done without delays, the bidding could only be scheduled for January, after the inauguration of the new President of the Republic.

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