World’s priciest oil auction may raise $50billion in Brazil

Exxon Mobil Corp., Royal Dutch Shell Plc and other energy giants are set to vie for deep-sea deposits that could hold 15 billion barrels of oil, almost twice as much as Norway’s reserves.

Pic: A floating production vessel seen near Guanabara Bay, Rio de Janeiro, Brazil
Exxon Mobil Corp., Royal Dutch Shell Plc and other energy giants are set to vie for deep-sea deposits that could hold 15 billion barrels of oil, almost twice as much as Norway’s reserves. Pic: A floating production vessel seen near Guanabara Bay, Rio de Janeiro, Brazil

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