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Oil companies swap stakes in Mexico as government holds off on auctions

With Mexico's government insisting that energy companies increase oil and gas output before it auctions off more of the country's vast reserves or offers more partnerships with state-run Pemex, firms ranging from foreign majors to local players are scrambling to buy and sell blocks they already own.

Petrobras' CFO says firm will add assets to divestment portfolio

Brazilian state-run oil firm Petrobras' plan to divest between $20 billion and $30 billion over the next five years is not ambitious enough, and the company will need to divest from additional assets, Chief Financial Officer Andrea Marques de Almeida said on Wednesday.

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