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Market Chatter: Exxon Mobile, Shell Reportedly Win Oil Blocks in Brazil at Auction

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Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (XOM.N) won blocks in Brazil’s pre-salt oil region at an auction on Friday, Reuters reported.

Shell won two of the initial four blocks under the hammer as part of consortia and Exxon, in a consortium with Norway’s Statoil ( STO ) and Portugal’s Petrogal, a unit of Galp Energia (GALP.LS), won another, according to the report.

There were no bids for the fourth block, and another four blocks will be auctioned later on Friday, it said.

The eight blocks on offer contain a total of more than 12 billion barrels of estimated oil reserves, according to the report.

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