IN BRIEF: Shell takes 50% stake in Brazil exploration block in BP deal
BP PLC - London-headquartered oil and gas company and Shell PLC - London-based oil major - Agree to terms for Shell to acquire a 50% stake Tupinamba exploration block in the Santos Basin, offshore Brazil. The agreement also covers a 30% stake in five leases containing the Conifer exploration prospect. "The transactions support BP's disciplined approach to capital allocation in service of becoming a simpler, stronger, more valuable company," says the company. The deal remains subject to regulatory approval. Read More