Equinor leads oil majors grabbing prime offshore Brazil stakes

Norway’s Equinor ASA led oil majors grabbing pre-salt blocks in Brazil on Thursday, snapping up stakes in some of the world’s most alluring offshore geology despite fresh concerns about political meddling in the country’s energy sector.

A consortium of Equinor, Exxon Mobil Corp and Petroleos de Portugal made Thursday’s most aggressive play, offering more than three times the minimum bid for the Uirapuru block in the Santos Basin off the coast of Rio de Janeiro.

That meant partnering with Brazil’s state-run oil company Petroleo Brasileiro SA, or Petrobras, which joined all three winning consortia in the round.

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