October 16, 2019 / 12:30 AM / a month ago

Brazil's Senate approves bill clearing path for massive oil auction

BRASILIA, Oct 15 (Reuters) - Brazil’s Senate unanimously approved a bill on Tuesday night that determines how proceeds from a massive upcoming oil bidding round will be divided among states and municipalities, allowing the so-called transfer-of-rights auction to go ahead on Nov. 6.

The passage of the bill is also seen as a key condition for the final approval this month of the government’s proposed pension reform in the Senate. (Reporting by Maria Carolina Marcello; Writing by Gram Slattery; Editing by Muralikumar Anantharaman)

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