Shell, Chevron Clinch Saturno Block in Brazil Oil Tender

September 28, 2018

A consortium made up of Royal Dutch Shell and Chevron Corp won the Saturno block in the Santos basin in Brazil's pre-salt offshore oil auction on Friday, outbidding a rival group led by Exxon Mobil Corp.

Shell's consortium won by pledging 70.2 percent of profit oil to Brazil's government, in the last oil auction ahead of a hotly contested presidential election next month. 

Reporting by Marta Nogueira and Alexandra Alper



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