Shell, ONGC Videsh Pay $1.636 Billion to Acquire Petrobras’ Interest in Offshore Brazil Assets
December 31, 2013
On December 30, 2013, Royal Dutch Shell (ticker: RDS-B) completed a $1 billion transaction with Petrobras (ticker: PBR) to acquire an additional 23% interest in the Parque das Conchas (BC-10) offshore Brazil. Its working partner, India-based ONGC Videsh, also increased its stake by 12%. The Brazilian government has already given its approval. PBR originally held a 35% interest in BC-10
