Brazil's oil and gas regulator ANP on Wednesday approved the temporary suspension of the 17th round of auction bids for exploration and production rights planned for this year due to the coronavirus health crisis.
In a press release, the ANP said its action followed the Mines and Energy Ministry's decision to suspend pre-auction procedures such as the drafting of documents and contracts in light of the current economic uncertainty.
The National Energy Policy Council (CNPE) will draw up a new timetable for the auction process, the ANP said, adding that is also awaiting a decision from the CNPE regarding the bidding rounds scheduled for the 2020-2021 period.
(Reporting by Marta Nogueira; Writing by Jamie McGeever Editing by Sonya Hepinstalll)