BP Spill Prompts ’Cautious’ Brazil Approach on Devon Assets

BP Plc’s oil spill in the Gulf of Mexico is prompting Brazil to take a “cautious approach” before deciding on the company’s purchase of Devon Energy Corp.’s deepwater blocks, the head of the petroleum regulator said.

Brazil will chose whether to approve the deal by the end of the year based on BP’s “technical and financial” conditions after requesting information on the slick, the world’s largest offshore accidental oil spill, Haroldo Lima, head of the National Petroleum Agency, known as ANP, said in an interview.