Offshore oil block auction nets Brazil more than $2 billion

MarketsAssociated Press

Brazil has netted the equivalent of more than $2 billion in an auction for the exploration of oil and gas fields off the country's coast.

Brazil's state-owned oil company Petrobras, in conjunction with consortia formed by major foreign companies, picked up 22 of the 47 offshore blocks that were offered in the auction held Thursday.

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The foreign companies included Exxon Mobil, Chevron, Royal Dutch Shell, Norway's Statoil, Germany's Wintershall and France's Total.