The board of Brazil's HRT Participacoes (HRTP3.SA) voted to close a deal with Russia's TNK-BP for the sale of oil exploration blocks in the Solimoes Basin in the Amazon, HRT said late on Thursday, without disclosing financial details. In July, HRT announced that TNK-BP had signed an agreement to purchase a 45 percent stake in Amazon oil exploration blocks from Brazil's Petra Energia, continuing its expansion into foreign markets. HRT is the majority stake holder and operator of the blocks. "The Board unanimously decided to keep the terms negotiated and not reopen discussions with the company TNK-BP," according to a statement. TNK-BP has sought to increase its foreign markets exposure. It already acquired BP (BP.L) (BP.N) assets in Vietnam and Venezuela -- part of the British major's plan to cover expenses incurred from the disastrous oil spill in the Gulf of Mexico.
Shares of BP remained unchanged at $39.52. In the past year, the shares have traded as low as $35.15 and as high as $49.50. On average, 10668500 shares of BP exchange hands on a given day and today's volume is recorded at 6300.
Source
