Deals
PetroChina Buys Petrobras Assets in Peru for $2.6 Billion
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PetroChina Co. will buy Petroleo Brasileiro SA’s Peruvian assets for $2.6 billion, as the nation’s biggest energy company signaled business as usual following a government graft probe launched in August.
The Beijing-based company will take over three blocks of oil and gas fields in Peru from the Brazilian state-run producer known as Petrobras, it said in a statement to the Hong Kong stock exchange yesterday. Petrobras owns two blocks entirely and has a 46 percent stake in the third, according to the statement. PetroChina’s shares rose.