Brazil Oil Giant Petrobras Set to Delay Rig Deals for Major Field as Global Glut Expands

Brazil’s national oil company will likely delay awarding as many as four drilling contracts for its largest offshore field by at least a few months, according to people familiar with...

By Peter Millard, Emma Sanchez · Bloomberg Markets

Brazil’s national oil company will likely delay awarding as many as four drilling contracts for its largest offshore field by at least a few months, according to people familiar with the matter — a move that comes as traders eye the country’s production closely amid an emerging global crude glut.