This news comes as a real shock to me.  I interviewed folks organizing the auction at OTC 2019 and they were marketing this auction very heavily.  You can read that article here:

Apex-Brasil Co-Organizes Educational Seminar At 50th Annual Offshore Technology Conference To Promote Brazil’s Upcoming Oil Auction

 

© Simon Mayer / Adobe Stock

Meanwhile, here is an excerpt from the Offshore Engineer article and link.

Major global oil firms snubbed a second Brazilian oil auction in a row on Thursday, passing up promising offshore blocks and forcing officials to reconsider a bidding system that gives a privileged position to state-run Petroleo Brasileiro SA.

https://www.oedigital.com/news/472624-big-oil-gives-brazil-the-cold-shoulder?utm_source=AOGDigital-ENews-2019-11-07&utm_medium=email&utm_campaign=OEDigital-ENews

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