Salem Radio Network News Wednesday, October 22, 2025

Business

Petrobras and Equinor acquire most blocks in Brazil’s pre-salt auction

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RIO DE JANEIRO (Reuters) -Brazil’s state-run oil firm Petrobras and Norway’s Equinor were the big winners in an auction for blocks in Brazil’s pre-salt area, acquiring one block each and partnering up to explore a third one, the country’s oil regulator ANP made public on Wednesday.

Australia’s Karoon Energy also acquired one block, and China’s CNOOC and Sinopec formed a consortium to acquire another. Two of the seven blocks put up for bids received no offers.   

(Reporting by Fabio Teixeira and Marta Nogueira)

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