RIO DE JANEIRO: Tue Mar 1, 2016
Brazil’s Petroleo Brasileiro SA (PETR4.SA) has cancelled an agreement to sell to a local oil firm its 20 percent stake in two offshore oil fields it operates with Shell, the state-led oil company said in a securities filing on Monday.
Petrobras gave no reason for the cancellation of the sale of the stake in the Bijupirá and Salema fields in the Campos basin to PetroRio PRIO3.SA.
Royal Dutch Shell Plc (RDSa.L), which owns 80 percent of the two fields, announced two weeks ago it was cancelling a planned sale of its share to PetroRio, then known as HRT, and gave no explanation for the move.
Shell also cancelled the sale to PetroRio of the FPSO Fluminense, the tanker used as a floating drill, storage and offloading platform.
Petrobras, the most indebted oil company in the world, has embarked on a divestment programme that aims to sell $14 billion in assets this year.
Shell, Europe’s largest oil company which gained approval last month to take over BG Group BG.L, had agreed in January 2015 to sell its stake in the fields in a deal estimated to be worth $150 million. The period for conclusion of the transaction ended this month and Shell opted not to renew negotiations.
The Bijupirá and Salema fields 150 miles (250 km) east of Rio de Janeiro were the first offshore fields to be operated by a foreign company.
The fields are in decline and need investment to pump up output. They produce nearly 31,000 barrels of crude oil per day, nearly half the planed production when the field started in 2003, and about 474,000 cubic meters of natural gas, Brazil’s oil regulator ANP said in early February.
(Writing by Anthony Boadle; Editing by Andrew Hay)
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
