By Brazil Stock Guide – Prio SA (PRIO3.SA) won about 500,000 barrels of oil from Brazil’s government in a spot auction held by state-owned Pré-Sal Petróleo SA (PPSA), Valor Econômico reported on Friday. The crude is from the Atapu field in the pre-salt Santos Basin.
The win marks Prio’s first success in a competitive process organized by PPSA, which is responsible for selling the government’s share of oil from production-sharing contracts. This was PPSA’s second spot sale in 2025, as the company seeks to accelerate commercialization of pre-salt volumes.
Prio, which operates the Frade field in the Campos Basin, has been growing through asset acquisitions and competitive bidding, solidifying its position as one of Brazil’s largest independent oil producers.
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