TotalEnergies and Petrobras secure 4.9 million barrels in PPSA spot auction

​TotalEnergies and Petrobras were the winners of Brazil’s 8th Union Spot Oil Auction, held by Pré-Sal Petróleo (PPSA) on August 26.
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TotalEnergies secured three Búzios lots totaling 4 million barrels. The volumes are associated with production from the FPSO Almirante Tamandaré, FPSO Almirante Barroso, P-78 and P-79.
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The first two lots each comprise 1 million barrels from Almirante Tamandaré and Almirante Barroso, with loading expected between October and December. The third includes two 1-million-barrel cargoes from P-78 and P-79, scheduled for November and December.
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Petrobras secured the Atapu lot, comprising approximately 900,000 barrels associated with production from the P-70. Loading is expected in early November.
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Of the eight lots offered, four Búzios lots were not awarded. Together, they represent approximately 8 million barrels and are expected to be offered again by PPSA in September.
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The auction volumes had been revised ahead of the sale due to logistical considerations involving the FPSOs. Following the adjustments, approximately 12 million barrels from Búzios and 900,000 barrels from Atapu were offered.
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Price offers were referenced to Dated Brent and opened during the auction with participating companies. PPSA does not immediately disclose the final values obtained in its spot sales, with results published 15 days after the respective cargoes are loaded.