Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction



Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction
Exxon Mobil Corp vastly expanded its presence in Brazil on Wednesday.

Environmental activists protested the auction and threatened to invade the Rio de Janeiro hotel where the round was taking place. They were removed after scuffling with hotel security staff.

Other winners included China's CNOOC and Spain's Repsol which took offshore blocks in the Espi­rito Santo basin with signing bonuses for 23.55 million reais ($7.38 million) and 23 million reais respectively.

The auction was Brazil's 14th round for blocks outside of the coveted pre-salt area and should gauge appetite for the country's second and third pre-salt rounds next month.

($1 = 3.1896 reais) (Additional reporting by Pedro Fonseca in Rio, Marcelo Texiera in Sao Paulo and Ernest Scheyder in Houston, Writing by Alexandra Alper and Guillermo Parra-Bernal; Editing by David Gregorio and Cynthia Osterman)


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