Global proven oil reserves rose by 0.5% in 2010, boosted by increases in Brazil, India and Russia, according to British Petroleum. Deposits advanced to 1.3832 trillion barrels at the end of last year from a revised 1.3766 trillion in 2009, BP said in its annual Statistical Review of World Energy.
British Petroleum is negotiating opportunities to buy stakes in oil fields in Brazil to accelerate production increases, the head of the company's Brazil division said on Wednesday.
British Petroleum is to sell assets in Texas, Canada and Egypt, to part-fund the clean-up cost of the Gulf of Mexico oil spill. The oil giant said it had reached a 7 billion US dollars deal with US-based oil production firm Apache Corp.
British Petroleum, BP, is actively considering the sale of its stake in Pan American Energy LLC, Argentina's fastest growing oil and gas company, according to oil industry sources quoted in the Buenos Aires press.