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The Real Reason Big Oil Bailed On Brazil

OilPrice.com Thursday, 7 November 2019
This year’s final oil auction in Brazil ended in a flop on Thursday, with Big Oil staying away from bidding and only one of five blocks awarded, suggesting that the massive upfront payments and complex royalty schemes have kept the world’s largest oil companies from participating. International oil majors didn’t bid in the 6th Production Sharing Bidding Round for promising areas in the pre-salt layer today, with only Brazilian state-held oil firm Petrobras offering a minimum bid for the Aram block, which it won in a consortium…
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Video Credit: The Street - Published
News video: Why Jim Cramer Is Taking a Close Look at Oil

Why Jim Cramer Is Taking a Close Look at Oil 00:48

Let's talk about oil. When asked what was on the top of his mind, Jim Cramer said that he was taking a close look at oil. Why? "I'm surprised that oil is doing well. I mean it's the first time that there's some notes about how oil could go up a lot. I don't believe them, cause we can flood the...

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