Oil majors to vie for Brazil offshore stakes despite legal setbacks

Oil majors will gather in Rio de Janeiro today to vie for stakes in offshore blocks near Brazil’s coveted pre-salt oil play, even after a court tossed the top two areas out of the running. Twenty companies including Chevron, BP, Exxon Mobil, Royal Dutch Shell, Statoil, and Total have registered to bid in a concession-style auction where 68 on and offshore blocks are being offered. Reuters reports. Argentina rejects investor advice for IMF credit line The Argentine government rebuffed an investor proposal that it should request a flexible credit line from the International Monetary Fund to shore up the nation’s finances, according to three people with direct knowledge of the matter. The proposal was discussed with Finance Minister Luis Caputo […]

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