For a couple of years now, energy companies, investors, and Brazilian officials have been waiting on what would come from the Brazilian pre-salt auction. Unfortunately, it didn't turn out the way many had anticipated. Of the 40 companies that were expected to file an intent to place bids, only 11 of them actually did. More importantly, some of the household names in Big Oil were absent from the list. For investors who were looking at Brazilian pre-salt fields as the next great investment opportunity, you may be disappointed.
So what does this mean for the future of Petrobras (NYSE:PBR)? Tune in to the following video, where fool.com contributor Tyler Crowe explains why this is not a good sign and what could be one glimmering hope for the pre-salt fields.
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