Brazil agency approves 11 firms for oil bid
Brazil’s petroleum regulator approved all 11 companies that paid to receive bidding information for the October 21 sale of Brazil’s Libra oil prospect, the country’s largest-ever oil discovery.
The approval, announced by the press office for the regulator, does not mean the companies will take part. Additional guarantees that the companies have resources to pay their share of an up-front 15 billion real (US$6.73 billion) cash payment are needed before bids can be made.
The prospective bidders are India’s Oil and National Gas Co, Malaysia’s Petroliam Nasional, or Petronas, Colombia’s Ecopetrol SA, China’s CNOOC, China National Petroleum Corp, China’s Sinopec, Spain’s Repsol SA, Portugal’s Galp Energia SGPS SA, France’s Total SA, Japanese trading company Mitsui & Co Ltd, and Anglo-Dutch Royal Dutch Shell Plc.-- Reuters