RIO DE JANEIRO: Brazilian state-run energy company Petrobras joined forces with European oil majors and Chinese rivals on Monday to buy the country's biggest-ever oil field with a lone bid at the minimum price, a worse-than-expected outcome for a sale designed to launch Brazil as a petroleum power.
The auction, conducted as police and the army clashed with hundreds of protesters objecting to the sale of natural resources to foreign companies, was notable because it sparked only a fraction of the appetite that was originally expected.
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