🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Chevron mulling participation in Brazil's March oil auction

Published 02/06/2018, 03:24 PM
Updated 02/06/2018, 03:30 PM
© Reuters. FILE PHOTO: The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba
CVX
-
SHEL
-
SLB
-

RIO DE JANEIRO (Reuters) - Chevron Corp (N:CVX) is considering taking part in an oil auction next month in Brazil as part of a consortium of companies, Brazilian oil regulator ANP said on Tuesday on its website.

The auction, slated for March 29, will offer 70 blocks in the offshore Ceará, Potiguar, Sergipe-Alagoas, Campos and Santos basins and on-shore basins of Parnaíba and Paraná.

The deadline to register for the auction is Wednesday. Chevron did not immediately respond to a request for comment.

Chevron did not bid in an October auction that opened Brazil's offshore pre-salt play to foreign operators and was dominated by Royal Dutch Shell Plc (L:RDSA).

However, Chevron is seeking to ramp up its production in Brazil.

© Reuters. FILE PHOTO: The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba

Reuters reported in December that Chevron had reached preliminary agreement with oil services company Schlumberger NV (N:SLB) to drill six wells in a Brazilian offshore field in a bid to lift its output there after a 2011 oil spill that cut production.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.