Uruguay’s first oil auction in seven years that had offered 17 offshore blocks didn’t attract any bids by the April 26 deadline, Uruguay’s state-run oil company ANCAP said. Although two companies submitted documents to qualify for the Round 3 oil auction in Uruguay’s offshore, none of them expressed further interest by filing offers, ANCAP said in a statement after the deadline expired on Thursday. Those two companies were London-listed Tullow Oil and AziLat Petroleum, a South America-focused oil and gas exploration company. Tullow Oil is currently operator of the offshore Area 15, which it won in the previous round 2, and its partners in that block are Norway’s Statoil and Japan’s Inpex. Uruguay will consider whether to amend its contract awarding system to adapt it to the current market conditions, ANCAP said. According to a source at ANCAP who spoke to Reuters , Uruguay’s government could sweeten the terms […]