Petrobras scoops up two big lots in Brazil's oil auction
ReutersJun 26, 2025 2:19 PM
SAO PAULO, June 26 (Reuters) - Petrobras PETR4.SA on Thursday acquired two of the most coveted lots in an oil auction held by Brazil's state-run PPSA, securing a total of 31.5 million barrels of oil from the Mero field, located in the country's pre-salt region.
Norways's Equinor EQNR.OL secured 14 million barrels of oil from the same field in the auction, while a consortium between Galp GALP.LS and ExxonMobil XOM.N purchased another 14 million barrels.
PPSA is responsible for selling the portion of oil that companies producing under sharing contracts in pre-salt oilfields must hand over to the government under Brazilian law.
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