Deals
Harvest May Eye Chinese Buyer for Petrodelta Stake, Analyst Says
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Harvest Natural Resources Inc., a U.S. oil company with producing assets in Venezuela, may find a Chinese buyer for its stake in the Petrodelta venture, according to Little Bear Research.
The “likely acquiror” for Harvest’s 32 percent stake in Petrodelta may be China National Offshore Oil Corp or China Petroleum & Chemical Corp, Zachary Prensky, an analyst with Little Bear Research in New York, wrote in a note to clients today. Petroleos de Venezuela SA, the state-owned oil company, has a 60 percent stake Petrodelta, located in eastern Venezuela.