27th Nov 2018 07:32
LONDON (Alliance News) - The Venezuelan oil ministry last month rejected a proposal by BP PLC to buy Total SA's stake in a natural gas project located on the border between Trinidad and Tobago, Reuters reported on Monday.
The news agency, citing five people briefed on the matter, reported the rejection of the deal, which had been waiting for approval for two years. France's Total owns a 49% stake in the inactive gas project with Norway's Equinor ASA the owner of the remaining 51%.
UK-listed BP meanwhile owns the rights to the Trinidadian side of the gas play.
https://uk.reuters.com/article/uk-venezuela-total-bp-exclusive/exclusive-venezuela-rejected-bp-bid-to-buy-totals-stake-in-gas-block-sources-idUKKCN1NV2C4