Latin American oil auctions kick off after two-year lull By Reuters – Investing.com

Latin American oil auctions kick off after two-year lull By Reuters – Investing.com

By Marianna Parraga and Sabrina Valle

HOUSTON (Reuters) - Latin America's oil frontiers are back in the spotlight with auctions coming up in Brazil, Guyana and the Andean region that are expected to attract bids from major oil firms despite a global call to end fossil fuel development.

Brazil is set to receive bids on Friday for offshore oil reserves that analysts say are some of the most promising to ever come to market. In other countries in the region, more flexible bidding and fiscal terms have piqued the interest of oil companies after a two-year bidding lull.