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Posts on ‘October 25th, 2017’

Shell says can pump oil from Brazil’s pre-salt fields below $40/bbl

Wael Sawan, Executive Vice President for Shell’s deepwater division, poses for a picture before an interview for Reuters during an oil conference in Rio de Janeiro, Brazil October 24, 2017. Picture take October 24, 2017. REUTERS/Bruno Kelly

Simon WebbAlexandra Alper: OCTOBER 25, 2017

RIO DE JANEIRO (Reuters) – Royal Dutch Shell will participate in Brazil’s deepwater oilfield auction on Friday and is confident it can pump oil from the fields on offer for less than $40 a barrel, a top Shell executive said.

Brazil will hold its first auction in four years for its pre-salt oilfields on Friday. The eight deepwater blocks on offer hold billions of barrels in reserves, and for the first time, Brazil will allow foreign oil firms to operate the fields in the region. read more

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