The October 27th pre-salt auctions in Brazil were a resounding success, according to industry experts and investors around the world. ExxonMobil, Statoil, Shell, Total SA, and BP were among those vying for a share in the eight blocks on offer; six blocs were ultimately sold, with Brazil’s National Petroleum, Natural Gas, and Biofuels Agency (ANP) raising $1.9 billion in signing bonuses. The active participation of the major international oil companies marked a significant change from their lukewarm interest in the initial pre-salt auction in 2015, reflecting regulatory changes introduced over the last year to open up the pre-salt to foreign investment. The next auction, scheduled for June 2018, is expected to extend the positive trend and help Brazil develop the oil and gas sector under a competitive, market-oriented model, reinforcing the nation’s capacity to confront fiscal and structural challenges.More Details
A live webinar of the event will be available here. This event is part of the monthly USAID Adaptation Community Meetings. For more information and to stay up-to-date on similar events, sign up to receive event updates.
Situated in the world’s most cyclone-prone region, the Philippines is particularly vulnerable to climate risks and related extremes, having endured increasingly unpredictable rains, intensifying cycles of flood and drought, and strengthening storms forming in the Pacific. These changing weather patterns have not only derailed livelihoods and agricultural productivity in rural areas, they have also exacerbated poor water and sanitation conditions in cities, where 45 percent of the population lives.
To address these risks and improve cities’ resilience and water security, USAID funded the Water Security for Resilient Economic Growth and Stability (Be Secure) project, which partnered with the national government, regional governments and local governments in six regions of the Philippines from 2013 to 2017.More Details