Brazil may be able to produce in the future as much as 7 million barrels of oil per day (bpd), Mines and Energy Minister Bento Albuquerque said on Wednesday, without specifying a timeline for this. The South American oil producer, which currently pumps 3 million bpd of crude oil, could further consolidate its global position as an exporter of commodities, Albuquerque said ahead of the transfer-of-rights auction which is being held later on Wednesday. In October and November, Brazil is holding three oil auctions for different areas under different regimes in its offshore basins. The first auction, held on October 10, attracted major international oil companies, with Big Oil scooping up exploration blocks in the bid round that fetched a record total amount of signing bonuses. The massive transfer-of-rights (TOR) auction is being held on November 6 and the 6th production sharing round will take place on November 7. […]