Reuters: Brazil gets only one bid for presalt oil [Seeking Alpha]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Seeking Alpha
Reuters: Brazil gets only one bid for presalt oilBrazil's auction of offshore pre-salt oilfields has attracted the interest ofonly one bidder, Royal Dutch Shell (RDS.A,RDS.B), Reuters reports.Brazilian rules dictate that companies vying for stakes in the prolific pre-salt must bid by promising a share of oil production to the government, a stipulation that likely kept away several potential bidders.The auction, scheduled for May 30, is the first time the government will sell its share of oil in the pre-salt, where billions of barrels of crude are trapped beneath a thick layer of salt under the ocean floor.Click to subscribe to real-time analytics on RDS.ANow read:Exxon Mobil Becomes A Political Battleground »
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