Brazil to tighten control over offshore oil reserves
Brazil unveiled Monday, a plan to increase its control on huge offshore oil reserves. This involves giving its state-owned company Petrobras sole operating rights, much to the disappointment of foreign oil companies.
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Petrobras Focuses on Offshore Oil; Novell Spurns Elliott: Video
March 22 (Bloomberg) — Bloomberg’s Erik Schatzker reports on the latest breaking business news and top stories in today’s Business Briefs. (Source: Bloomberg)
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Chinas Cnooc Buys Bridas Stake for $3.1 Billion: Video
March 15 (Bloomberg) — Cnooc Ltd., Chinas biggest offshore oil explorer, agreed to buy a 50 percent stake in Argentine producer Bridas Corp. for .1 billion, adding an estimated 318 million barrels of reserves as Chinese fuel demand surges. Bloomberg’s Melissa Long reports. (Source: Bloomberg)