Brazil Only Gets Bid From Shell For Presalt Oil

An auction of oil by the Brazilian government from coveted offshore presalt fields has only attracted the interest of one bidder, Royal Dutch Shell, a person familiar with the matter said on May 24.

The auction, scheduled for May 30, is the first time the government will sell its share of oil in the pre-salt, where billions of barrels of crude are trapped beneath a thick layer of salt under the ocean floor.

Shell confirmed in a statement that it has registered to bid in the auction.