BP Brazil head says future oil auctions unlikely to lure foreign players: paper [Reuters]
BP p.l.c. (BP)
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Source: Reuters
BP Brazil head says future oil auctions unlikely to lure foreign players: paper - Reuters 2 Min Read SAO PAULO (Reuters) - Foreign oil companies that have not joined Brazil’s last two auctions of offshore “pre-salt” fields are also unlikely to bid next year, BP Plc’s Brazil president told newspaper Valor Economico in an interview published on Wednesday. Adriano Bastos argued that, even if the pre-salt areas that have not received any bids are auctioned again with better terms, other projects elsewhere in the world will attract such multinational oil firms, reducing their capacity to invest in Brazil, according to the paper. “Capital that has not yet come to Brazil will not come next year. Other projects were sanctioned ... It will restrict my capacity to invest in Brazil,” he told Valor, adding that Iran has announced a huge oil discovery and pointing to the upcoming initial public offering of Saudi state oil giant Aramco. Among the reasons behind BP’s decision to stay out of Brazil’s
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BP
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- 4/9/24 - Form 6-K
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- BP's page on the SEC website