Brazil held a second underwhelming oil auction in as many days on Thursday, as major global oil firms passed again on offshore blocks billed as among the world’s most promising. The only block awarded in Thursday’s auction went to state-run Petroleo Brasileiro SA , or Petrobras, and Chinese state firm CNODC, a unit of China National Petroleum Corp, who offered the minimum bid. The flop, following a similar lack of foreign interest in an even bigger round on Wednesday, was a wake-up call to officials who expected this week to crown Brazil as uncontested champion of the Latin …read more
Source:: Yahoo Finance
