Vedanta, Murphy, others in race for $1 billion stake in Brazil oil blocks

New Delhi: The US’ Murphy Oil Corporation, Brazil’s PetroRio, Germany’s Wintershall DEA and Vedanta are competing to acquire a $1-billion stake in four Brazil oil blocks formerly co-owned by Videocon’s oil business division. A consortium of lenders led by SBI now owns the stake after seizing shares held as collateral in a 50:50 joint venture between Videocon and Bharat Petroleum Corporat