Exxon, BP, BG to pass on bids for Brazil offshore Libra prospect
Exxon Mobil Corp, BP Plc and BG Group Plc decided not to make bids for the giant offshore Libra oil prospect that Brazil plans to auction on Oct. 21, Magda Chambriard, head of Brazil's oil regulator ANP, said on Thursday.
The decisions by the three international giants - two of which, BP and BG, already have large investments in Brazil near Libra - have helped frustrate Chambriard's expectation that more than 40 companies would take part in the auction.
As of yesterday's deadline, less than 40 companies had paid the 2.05 million real ($931,818) fee to guarantee a spot at the auction, Chambriard told reporters in Rio de Janeiro.
Earlier on Thursday, Chambriard said that at least 12 companies had paid the initial entry fee. The ANP will publish a complete list of preliminary participants on Thursday, the regulator's press office said on Wednesday.
The ANP said Libra holds 8 billion to 12 billion barrels of recoverable oil, enough to supply all current world oil needs for three to five months.
- Tweet this
- Share this
- Digg this
- China building South China Sea island big enough for airstrip - report
- Bill Cosby says he does not have to 'answer to innuendos': report
- Pakistani family sentenced to death over "honour killing" outside court
- Volunteer snow shovelers hit Buffalo streets as flooding fears rise |
- Video streaming service Aereo files for bankruptcy
Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article