Royal Dutch Shell is considering investing billions in Brazil, set to become a focal point after the planned acquisition of BG Group, even as it prepares to sell huge chunks of its business to pay for the $70bn deal.
UK gas producer BG Group has announced a deal to sell its stake in Brazil's Comgas to Sao Paulo-based Cosan for 1.8bn dollars. BG said it expected to deal to be completed by the end of the year.
UK’s BP, BG Group, London-based Tullow Oil and French oil major Total were awarded a total of eight offshore blocks in an Uruguayan bidding round and will invest 1.56 billion dollars in exploration of those areas, state energy company Ancap announced.
Reserve estimates in the Santos Basin off the coast of Brazil have an upside potential of 8 billion barrels of oil equivalent, an energy company in London said.