CNPC to buy Petrobras' Peru assets
BEIJING: China National Petroleum Corp (CNPC), the country's largest oil producer, is nearing an agreement to buy Petroleo Brasileiro SA's (Petrobras) assets in Peru for more than US$2 billion (RM6.29 billion), said three people with knowledge of the matter.
The proposed deal may be announced as soon as next month, said one of the people.
Petrobras, the most indebted publicly-traded oil company, has been selling assets to help finance projects in Brazil's deep waters.
The company, controlled by Brazil's government, agreed to sell oil blocks and pipelines in Colombia to Perenco UK Ltd for US$380 million last month.
Petrobras entered Peru in 1996, according to its website. It produces about 16,000 barrels a day in the country and holds stakes in exploration assets in the Maranon, Huallaga and Madre de Dios basins, the website shows. Bloomberg