SAO PAULO May 25 Petróleo Brasileiro SA
does not have the means to bid for all eight pre-salt
exploration areas as well as the 14th round of oil rights
auctions, Chief Executive Pedro Parente said on Thursday.
Petrobras, as the company is known, had announced earlier in
the day it would exercise priority rights in two offshore
pre-salt auctions scheduled for this year. Speaking to
reporters, Parente said the company will delay investments in
northeast Brazil to make room for those bids.
(Reporting by Bruno Federowski; Editing by Christian Plumb and