BP selling majority stake in Brazil's Polvo oil fieldMay 6, 2013 - 18:17 AMT PanARMENIAN.Net - Oil company BP says it is selling its majority stake in Brazil's Polvo oil field for $135 million in cash to HRT Oil & Gas, according to The Associated Press. BP gained its 60 percent stake in Polvo from Devon Energy in 2011 as part of a purchase in ten exploration and production blocks. Maersk owns the other 40 percent and the field, located approximately 100 kilometers (60 miles) off the coast of Rio de Janeiro, currently produces about 13,000 barrels of oil a day. BP said in a statement Monday, May 6 that the deal with Brazil's HRT Oil & Gas is expected to close in the second half of 2013, subject to regulatory approvals. In March, BP announced it was buying back $8 billion of shares using money from the sale of TNK-BP to Rosneft. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. Armenian PM sends condolences to Iran Prime Minister Nikol Pashinyan sent a message of condolence to the Supreme Leader Seyyed Ali Khamenei. |