November 7, 2019 / 1:01 PM / 7 days ago

Petrobras, CNODC awarded Aram block in Brazil with minimum allowed bid

FILE PHOTO: People walk in front of the Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil, October 16, 2019. REUTERS/Sergio Moraes/File Photo

(Reuters) - Brazil’s state-run Petrobras and CNODC, a unit of China National Petroleum Corp, were awarded rights to explore and produce oil at the Aram block in the country’s Santos basin by offering the minimum allowed profit oil of 29.96 percent.

Reporting by Marianna Parraga and Gram Slattery; Editing by Alex Richardson

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