Brazil’s state-run oil company Petrobras ( PETR4.SA ) and France’s Total ( TOTF.PA ) on Friday agreed to buy millions of barrels of oil cargo from the Brazilian government, its first successful auction of its share of output from the pre-salt offshore play. The auction, held by Pre-sal Petroleo SA, the state company managing contracts for pre-salt oil development, was the government’s second attempt to sell its share of oil from three fields in the Santos offshore basin. A first attempt in May yielded no bids. On Friday, private oil majors Royal Dutch Shell ( RDSa.AS ) and Repsol-Sinopec, though registered to bid, sat on the sidelines. Oil majors have plowed top dollar into Brazil to lock in stakes in the offshore pre-salt oil play, where billions of barrels of oil are trapped under a thick layer of salt. Brazilian rules dictate that companies […]