Regulatory News

The British company BP has decided to sell its stake in the Polvo Field, in the Campos Basin, off Rio de Janeiro's coast. The company owns 60% of the business and is a partner with Maersk Oil, which owns 40%. All together, the field produced 16,300 barrels of oil. For the sale to occur, the National Petroleum Agency (ANP) must authorize it.

In 2010, the only similar operation occurred when the American company Statoil sold a 40% stake in the Peregrino Field to the Chinese company, Sinochem. At the time, however, the field had not yet entered production, which only happened the following year.

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