Brazil plans R$ 22.4 billion pre-salt auction for 2027

The Brazilian government plans to collect R$ 22.4 billion through a special pre-salt oil auction in 2027, according to the budget bill submitted to Congress. This revenue is considered essential for meeting the primary surplus target.

In the budget proposal, the administration of President Luiz Inácio Lula da Silva projects a primary surplus of R$ 18.6 billion for the upcoming year, representing 0.13% of the GDP. Economic ministers have stated that the administration aims to leave a balanced budget for the next government, regardless of election outcomes. However, the pre-salt auction is viewed as decisive for fiscal compliance, as the projected revenue exceeds the calculated surplus itself.

Sources indicate the 2027 operation will involve selling a portion of the Union’s future oil production rights. This follows a previous attempt to forecast R$ 31 billion from an extraordinary auction, a plan that was abandoned in May after the government faced questions from the Federal Court of Accounts (TCU) regarding the sale model used for production rights.