To buy an additional 12 per cent participating interest in block BC-10 in Brazil's Campos Basin, ONGC Videsh (OVL) has signed definitive agreements. Post the deal, OVL's share in the acreage would increase to 27 per cent. In the deep water block, this is part of the sale of 35 per cent share made by Petrobras. In 2006, OVL had acquired 15 per cent interest in the Campos Basin.
Tag: Petrobras
Post
Post
OVL bars Chinese firm from buying state in Brazilian oilfield
Indian-government owned ONGC Videsh (OVL) has blocked a Chinese company from acquiring a stake in the Brazilian oilfields by utilising its pre-emptive right. The Brazilian State-owned Petrobras had planned to sell its 35 per cent state in block BC-10 in the Campos Basin to the Chinese Sinochem group for $1.54 billion. OVL, has a 15 per cent stake in BC-10, along with Royal Dutch Shell company.
Post
Petrobras to increase exports to India
Brazilian national oil exploration firm Petrobras is in negotiations to increase crude oil exports to Indian refineries. Increasing export quantities to India would depend on negotiations.