BP reportedly in talks to sell Bumerangue stake to Petrobras
Bloomberg News, citing people familiar with the matter, reports BP is discussing a sale of part of Brazil's Bumerangue block to Petrobras. Reuters could not verify it.
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what happened
According to Bloomberg News, which cited people familiar with the matter, BP is negotiating with Petrobras over a share in the Bumerangue block off Brazil's coast. Reuters said it could not independently verify the report, and neither company had yet responded to requests for comment.
The talks are ongoing and no agreement is assured. BP currently holds the entire block.
why it matters
BP calls Bumerangue its biggest discovery in 25 years and estimates it holds about 8 billion barrels of liquids. A partner would share costs and risk before a final investment decision. For the wider market the effect is small for now; the deal matters mainly to the two companies.
market impact
Oil: the deal does not change supply balances now, impact mainly on BP and Petrobras
tags
instruments
on polymarket
sources
- BP in talks to sell stake in Brazil oil discovery to Petrobras, Bloomberg News reports — Reuters, 12 November 2026 at 10:20 UTC
- BP in talks to sell stake in Brazil oil discovery to Petrobras, Bloomberg News reports — Reuters, 12 November 2026 at 11:46 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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