Exxon, BP, BG to pass on bids for Brazil's Libra oil prospect

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon Mobil (XOM -0.3%), BP (BP -0.2%) and BG Group (BRGYY.PK, BRGXF.PK) decide not to make bids for the giant offshore Libra oil prospect that Brazil plans to auction next month, the head of Brazil's oil regulator ANP says.

As of yesterday's deadline, fewer than 40 companies had paid the 2.05M real ($931,818) fee to guarantee a spot at the auction.

Libra is believed to contain 8B-12B barrels of recoverable oil.