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CNPC seeks to buy Brazil' s Barra for $2 billion

CHINA -- CNPC is in talks to buy Barra Energia Petroleo e Gas for about $2 billion, Bloomberg News reported citing people with knowledge of the matter.

The negotiations are under way and a deal could be reached as soon as this month, the people said in the report.

The oil startup has stakes in two projects in the Santos Basin that holds Brazil' s largest oil field. They are a 30% stake in the BS-4 concession and 10% of the BM-S-8 concession.

Dow Jones Newswires

05/07/2013

 

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