Arab Today, arab today petrobras in 16bn offshore selloff to shell videsh
Last Updated : GMT 07:02:40
Arab Today, arab today
Arab Today, arab today

Petrobras in $1.6bn offshore selloff to Shell, Videsh

Arab Today, arab today

Arab Today, arab today Petrobras in $1.6bn offshore selloff to Shell, Videsh

Rio De Janeiro - AFP

Brazilian state oil giant Petrobras said Monday it had sold Shell and India's ONGC Videsh its 35 percent stake in the Parque das Conchas offshore project for $1.636 billion. Petrobras said the deal followed through on an August agreement with Anglo Dutch Shell and ONGC Videsh, the overseas unit of India's biggest oil explorer, to sell off its stake in the "BC-10" zone, comprising five fields located in the south-east Campos Basin area. The deal was approved by Brazilian regulatory authorities. "Shell and ONGC Videsh have exercised their pre-emption rights for the retrospective acquisition of 23 percent (for Shell) and 12 percent (for ONGC Videsh) of the Petrobras stake," the Brazilian giant said in a statement. The Parque das Conchas blocs produced an average of 8,600 barrels per day in 2013, Petrobras added. Last month Petrobras sold off its Peruvian subsidiary to China's CNPC for $2.6 billion as part of a $9.9 billion program of divestments. The company wants to concentrate its 2013-2017 plans on tapping huge deepwater 'pre-salt' deposits off the country's Atlantic coast. Though gearing up for the pre-salt bonanza -- the deposits buried beneath several kilometers of ocean, bedrock and hot salt beds may hold up to 100 billion barrels of high-quality recoverable crude -- Petrobras has seen its share price buffeted. Its price has slumped 34 percent in 2013 over production falloffs and also a government policy of subsidizing fuel, hitting the firm's profitability. The fall off has seen the oil giant's market capitalization slide from $124.7 billion to $90.5 billion.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today petrobras in 16bn offshore selloff to shell videsh Arab Today, arab today petrobras in 16bn offshore selloff to shell videsh

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday