Brazil's Petro Rio Says Shell Backs Out of Campos Basin Deal

Reuters

SAO PAULO, Feb 16 (Reuters) – Brazilian oil and gas company Petro Rio SA said on Tuesday that Royal Dutch Shell had cancelled an agreement to sell offshore assets in the Campos Basin for an undisclosed sum.

Europe's largest oil company, which gained approval last month to take over BG Group, had agreed in January 2015 to sell its 80 percent stake in the Bijupirá and Salema fields, along with a drill ship, to Petro Rio, known then as HRT.

(Reporting by Gustavo Bonato and Brad Haynes; Editing by David Goodman)

 

Copyright 2016 Thomson Reuters. Click for Restrictions.

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