Brazilians protest in defence of environment as huge oil auction nears

6 November 2019
2019-11-06 14:07

As Brazil approaches the biggest oil auction in its history - and one of the world's most expensive ever - Brazilians went up to Christ the Redeemer in Rio de Janeiro to protest against the environmental impact of the deal. In Wednesday's auction, known as the transfer-of-rights (TOR) bidding round, firms are expected to pay up to 26.5 billion dollars in signing bonuses for fields that Brazil says may hold up to 15 billion barrels of untapped crude. The auction comes as Brazil grapples with a massive oil spill in its north-eastern region that has blackened golden beaches.

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