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Pre-Salt Libra Field Auction Snubbed

By William Jones, Contributing Reporter

RIO DE JANEIRO, BRAZIL - Some of the world's biggest oil companies have snubbed Brazil's much-vaunted auction of offshore pre-salt oil blocks as the National Petroleum Agency (ANP) tried to remain positive despite receiving only a fraction of the interest they and the government had hoped for.

U.S. giants Exxon and Chevron, Norway's Statoil and the UK's BG and BP all decided against partaking in the auction of . . .

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