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Record Spending at 11th Oil Round: Daily

By Lucy Jordan, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL - Brazil’s 11th oil and gas auction, held Tuesday in Rio de Janeiro, raised a record R$2.8 billion, the industry’s regulatory agency said, with Petrobras winning the most blocks, and oil giants, BP, Total, Chevron and ExxonMobil also gaining rights to explore new areas.

The result exceeded the goal of R$2 billion set by Brazil's National Petroleum Agency (ANP) president, Magda Chambriard. "We are . . .

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