Exxon Bids for Brazil Oil Against BHP, Shell, Mitsui

Bloomberg reported that Exxon Mobil Corp wants to acquire oil blocks in Brazil and will join 70 other companies including Royal Dutch Shell, BHP Billiton, and Mitsui for an oil block auction scheduled in mid-May.

As quoted in the market news:

The blocks that will be made available for the companies are located off Brazil’s northeastern and northern coasts, while the pre-salt finds are off the coasts of the southeast states of Rio de Janeiro, Sao Paulo and Espirito Santo.

Click here to read the full Bloomberg report.