Deals
Rosneft Takes Control of PetroRio Oil Venture in Brazil’s Amazon
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OAO Rosneft, Russia’s largest oil producer, has taken control of an exploration venture in the Brazilian Amazon, Chief Executive Officer Igor Sechin said.
Rosneft will hold 100 percent of two onshore oil and natural gas exploration leases in the Amazon’s Solimoes Basin after buying a stake from PetroRio, according to two people with direct knowledge of the deal who asked not to be named because the agreement isn’t public. The deal is valued at $55 million and will be announced as early as Monday, one of the people said.