BP eyes Repsol’s Brazil stakes

Tony Hayward: BP chief says Repsol YPF stakes in Brazil look enticing.

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By News Wires

 29 January 2010 17:43 GMT

BP boss Tony Hayward said he may consider buying some of Repsol YPF’s oil fields in Brazil but is not interested in ConocoPhillips assets that are on the block.



Repsol YPF is investing in exploration in Brazil’s offshore Santos Basin to boost production and may consider selling shares in its local unit to meet investment needs in that country, according to boss Antonio Brufau.

“We’ll see if they want to sell them to us,” Hayward said told Bloomberg today in an interview in Davos, Switzerland.

ConocoPhillips said in October that it planned to sell some $10 billion of assets worldwide over two years, cut spending and reduce debt.

“I wouldn’t have thought” that ConocoPhillips’s assets would be of interest to BP,…

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