Brazilian court blocks Total’s plan to buy pre-salt fields

A Brazilian court has blocked part of a deal for France’s Total to acquire stakes in two pre-salt fields from state-run Petrobras.
By Staff reporter 12 October 2017 0 27950

A Brazilian court has blocked part of a deal for France’s Total to acquire stakes in two pre-salt fields from state-run Petrobras, Reuters has reported.

Federal court judge Edmilson da Silva Pimenta ruled in favour of oil union members in the northeastern state of Sergipe, who claimed Petrobras breached transparency rules.

Petrobras agreed to sell a 22.5% stake in the Iara field and 35.0% in the Lapa field to Total in March.

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