Brazil's oil auction raises US$2bil as Malaysia's Petronas, TotalEnergies, Shell pile in

While TotalEnergies (28%), Qatar Energy (21%) and Petronas (21%) made the top offer for Sepia field, Petrobras, formally Petroleo Brasileiro SA, later entered the consortium by exercising preference rights to take a 30% stake.

RIO DE JANEIRO: Malaysia's Petronas, France's Total, Royal Dutch Shell, and Qatar Energy on Friday scooped up big offshore oil fields in Brazil together with state-owned Petrobras, paying nearly $2 billion to its cash-strapped government.

While TotalEnergies (28%), Qatar Energy (21%) and Petronas (21%) made the top offer for Sepia field, Petrobras, formally Petroleo Brasileiro SA, later entered the consortium by exercising preference rights to take a 30% stake.