Petrobras scoops up two big lots in Brazil's oil auction

Reuters
06-26
Petrobras scoops up two big lots in Brazil's oil auction

SAO PAULO, June 26 (Reuters) - Petrobras PETR4.SA on Thursday acquired two of the most coveted lots in an oil auction held by Brazil's state-run PPSA, securing a total of 31.5 million barrels of oil from the Mero field, located in the country's pre-salt region.

Norways's Equinor EQNR.OL secured 14 million barrels of oil from the same field in the auction, while a consortium between Galp GALP.LS and ExxonMobil XOM.N purchased another 14 million barrels.

PPSA is responsible for selling the portion of oil that companies producing under sharing contracts in pre-salt oilfields must hand over to the government under Brazilian law.

(Reporting by Marta Nogueia, Gabriel Araujo and Alberto Alerigi Jr.; Editing by Brendan O'Boyle)

((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))

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