Venezuela’s oil ministry has rejected an offer from BP last month to buy Total’s 49% stake in Block 4 of the offshore Plataforma Deltana gas field, which straddles Venezuela’s maritime border with Trinidad and Tobago, Reuters reported on Monday.
BP owns the rights to the Trinidadian side of the field, and the acquisition of Total’s stake would have allowed BP to supply its growing operations in Trinidad.
The ministry told the parties that the block’s reserves needed to be re-estimated, an...
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