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Arthur Eze's Oranto, Petrobras bid for São Tomé oil blocks
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Arthur Eze's Oranto, Petrobras bid for São Tomé oil blocks
São Tomé and Príncipe has cancelled the results of its 2026 offshore licensing round after the auction drew only two bidders, Brazil's state oil company Petrobras and Oranto Petroleum, the exploration firm controlled by Nigerian billionaire Arthur Eze.The island nation's National Petroleum Agency scrapped the process for three offshore blocks after concluding that the absence of competing bids made it impossible to establish fair market value. T…
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