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Tag Archives: Auction

Brazil Oil Auction a ‘Total Disaster’ as Bidders Stay Away

November 7, 2019 by Reuters By Marianna Parraga, Gram Slattery and Marta Nogueira RIO DE JANEIRO, Nov 7 (Reuters) – Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up promising offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA. The only block awarded …

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