Xin Hua Cai Jing·2025-06-27 06:49Core Points - The Brazilian government held its fifth round of "Federal Oil" spot auctions, generating a record revenue of 28 billion reais (approximately 5 billion USD) [1][2] - The auction attracted major international energy companies, including PetroChina, CNOOC, Total Energies, Equinor, ExxonMobil, and GALP, highlighting the competitive nature of the bidding process [2] - The auction involved the sale of 74.5 million barrels of pre-salt crude oil from various blocks in the Santos Basin, with significant participation from Chinese companies [1][2] Summary by Category Auction Details - The auction was organized by the National Agency for Oil, Natural Gas and Biofuels (ANP) and involved the sale of government-held pre-salt oil shares from seven blocks [1] - The blocks included Mero, Búzios, Itapu, and Sépia, located offshore in the southeastern states of São Paulo and Rio de Janeiro [1] Participants and Bids - A consortium formed by PetroChina and the Mubadala fund-controlled Mataripe Refinery won 10 million barrels, securing the Búzios block and Itapu block at competitive discounts to Brent crude prices [1][2] - Other notable participants included the Brazilian National Oil Company, which acquired the largest share of approximately 40 million barrels, and a consortium of GALP and ExxonMobil, which won 14 million barrels [2] Financial Implications - The auction's revenue exceeded the initial budget expectation of 23 billion reais, providing additional financial support for the government's fiscal responsibilities [2] - The crude oil extracted from the auction will be delivered in phases from July 2025 to February 2027 [2]