PetroChina acquires oil from Brazil's pre-salt field Bacalhau and secures gas import approval

Type: Supply Agreement · Technology: Oil Gas · Country: Brazil · Announced: 2026-04-15

Pré-Sal Petróleo AS (PPSA), representing Brazil's federal government in pre-salt contracts, conducted a spot auction on April 15, 2026, selling oil from the Bacalhau Field. The initial offering was 1 million barrels, but PPSA expanded the sale to 2 million barrels one day before the auction. PetroChina emerged as the winning bidder for the oil cargo, securing supply from Brazil's pre-salt reserves. The deal also included regulatory approval for PetroChina to import gas associated with the oil acquisition. The transaction represents Brazil's continued efforts to monetize pre-salt resources through international partnerships.

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