Statoil Gets Go-Ahead For Lucrative Espirito Santo Stake

Statoil ASA (NYSE:STO) received approval from ANP (Agência Nacional do Petróleo) for the purchase of a 25% equity in a concession in Espirito Santo basin in offshore Brazil. Recent discoveries in this concession have deemed the purchase a very lucrative one and Statoil is now ready to take a share of the rich pie that is now Brazil’s petroleum . . .


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