Brazil's Ouro Preto cuts bid for Petrobras oilfield clusters -sources [Reuters]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Reuters
Brazil's Ouro Preto cuts bid for Petrobras oilfield clusters -sources | Reuters 2 Min Read By Carolina Mandl and Alexandra Alper SAO PAULO/WASHINGTON, Dec 14 (Reuters) - Brazilian energy company Ouro Preto has cut its bid for two shallow water mature oilfield clusters from Brazil’s state-run oil company Petroleo Brasileiro, two sources with knowledge of the matter told Reuters, reflecting a drop in oil prices in recent months. Ouro Preto, backed by private equity giant EIG Global Energy Partners, entered exclusive talks with Petrobras in July after presenting the highest offer for the Pampo and Enchova clusters, located in the Campos basin off the coast of Rio de Janeiro state. At the time, the fields were seen fetching around $1 billion. But the consortium cut its bid for the area flagging a fall in oil prices of around 20 percent since July, on growing U.S. supply and demand is seen at risk on economic woes tied to the U.S.-China trade spat. Lower oil prices could hamper efforts by
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