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Better-than-expected results from Brazil's oil exploration rights auction show operators were...

Better-than-expected results from Brazil's oil exploration rights auction show operators were undeterred by Brazil’s local-content rules or Chevron's treatment in the wake of the Frade oil spill. In fact, CVX was one of the winning bidders, joining the likes of XOM, BP and PBR. The auction put things in perspective: Brazil has huge potential, and is a much less risky place than Nigeria, Russia or Venezuela.
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  • Retired User
    , contributor
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    "Brazil has huge potential" yes and no. To book reserves yes. To produce it no.
    15 May 2013, 06:47 PM Reply Like
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