Russia's Rosneft says regulator approves full control in Brazil's Solimoes

Jul 06, 2015 12:00 AM

Russia's top oil producer Rosneft said on Monday that Brazilian regulator has cleared a purchase of 55 percent stake in oil and gas project in the Solimoes Basin from PetroRio, allowing the Kremlin-controlled company to gain full control over it.

Rosneft also said that the deal is due to be completed within next 30 days.

A year ago PetroRio transferred a controlling interest in the Solimoes blocks to Rosneft, which struck a deal with Brazil's state-run oil company Petrobras to find ways to sell the natural gas trapped in remote parts of the Amazon.

 

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