Total withdraw from the next Brazilian auction

The French oil tanker Total, big winner of the 16th round of procurement of exploratory blocks under concession regime, held this week, said that he will not participate in the auction of the surplus of the onerous assignment, day 6 November.

Total Executive Director Patrick Pouyanné said in a statement that the bidding rounds were for non-operational holdings, that is, it does not offer the opportunity for the oil company to be an operator.

With the highest signature bonus ever recorded for a round in this regime, the company aims to expand its business in Brazil with the distribution of fuels and began its operations by buying Zema Petróleo in Minas Gerais in November

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