Oil Power Play: Brazil’s Historic Auction Nets R$17 Billion

The recent oil auction by Pre-Salt Petroleum (PPSA) in Brazil garnered an impressive R$17 billion, equivalent to roughly $3.04 billion. This event attracted significant interest, particularly from Petrobras and Chinese entities CNOOC and PetroChina, highlighting the appeal of Brazil’s offshore oil fields. The auction for Búzios and Mero fields offered 37.5 million barrels of pre-salt […]