Brazil Aims to Raise $7.7 bln in Oil, Gas Auctions

Brazil's government expects to raise at least 24 billion reais ($7.7 billion) in oil and gas auctions through 2019, Energy Ministry Executive Secretary Paulo Pedrosa said on Monday.

The auctions, which include presalt exploration areas, should raise at least 8.5 billion reais in 2017, Pedrosa said. Proceeds from the sale of distribution companies held by state energy holding company Centrais Eletricas Brasileiras SA , may be divided between the company, known as Eletrobras, and the federal Treasury, he said.

Reporting by Rodrigo Viga Gaier