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CORRECT: TNK-BP Hopes To Close Brazil Buy Within Month, Eyes Other Assets

("CORRECT: TNK-BP Hopes To Close Brazil Buy Within Month, Eyes Other Assets" at 1420 GMT and "TNK-BP Hopes To Close Brazil Buy Within Month, Eyes Other Assets" at 1203 GMT misstated the name of the Venezuelan company in the sixth paragraph. The correct version follows:) ST. PETERSBURG -(Dow Jones)- BP PLC's (BP) Russian joint venture TNK-BP Ltd. (TNBP.RS) hopes to close a deal to buy a 45% stake in an oil and gas deposit in Brazil's Solimoes region from Petra Energia SA within one month, the company's Deputy Chief Executive Maxim Barsky said Friday. "We have already agreed on this deal. Now we await approval from the board," Barsky said. If the deal goes through, TNK-BP will partner with Brazil's HRT Participacoes em Petroleo SA (HRTP3.BR)--the operator and owner of 55% of the Solimoes blocks. A person familiar with the situation said last month that TNK-BP may pay as much as $1 billion for the 45% stake. The Solimoes blocks cover an area of 48,500 square kilometers. According to U.S.-based petroleum consulting company DeGolyer and MacNaughton, HRT's stake holds 542 million barrels of oil equivalent, of which 84% is natural gas. The company may also increase its stake in Venezuela's Petromonagas to 40% from the current 17%, Barsky said. Venezuelan state energy company PDVSA has invited TNK-BP to increase its stake in Petromonagas to 40%, Barsky said. TNK-BP closed a deal this week to buy three Venezuelan assets from BP. The deal included a 17% stake in Petromonagas, a 40% stake in Petroperija SA and a 26.7% stake in Boqueron SA. Barsky also confirmed his company is interested in a 53% stake in Poland's second-largest refiner Grupa Lotos SA (LTS.WA), currently put on sale by the country's government which holds the stake. -By Jacob Gronholt-Pedersen, Dow Jones Newswires, +8 916 475-93971; jacob.pedersen@dowjones.com

Stock News for Engelhard (EC)
DateTimeHeadline
04/22/201520:48:00Ecopetrol Announces that the Supreme Court of the Netherlands...
04/22/201520:48:00Ecopetrol Announces that the Supreme Court of the Netherlands...
04/22/201516:40:00Ecopetrol S.A.'s Board of Directors Approves Membership of Committees
04/22/201516:40:00Ecopetrol S.A.'s Board of Directors Approves Membership of Committees
04/22/201516:36:06Report of Foreign Issuer (6-k)
04/17/201512:07:00Total Gabon : Communiqué de mise à disposition du Rapport financier a...
04/15/201506:02:50Report of Foreign Issuer (6-k)
04/14/201519:19:00Ecopetrol Reports on the Authorization Received from the Ministry...
04/14/201519:19:00Ecopetrol Reports on the Authorization Received from the Ministry...
04/14/201509:48:00Council of Ministers Issues Favorable Opinion on Planned Sale...
04/14/201509:48:00Council of Ministers Issues Favorable Opinion on Planned Sale...
04/14/201509:46:24Report of Foreign Issuer (6-k)
04/08/201514:49:31Ecopetrol to tighten focus on offshore exploration, key fields
03/31/201519:22:00Oil companies show active interest in Mexican energy tracts
03/31/201513:58:00Total Gabon : Nombre total d’actions et de droits de vote au...
03/30/201507:38:45Report of Foreign Issuer (6-k)
03/28/201518:06:00Ecopetrol Notice on the Approval of Amended Rules and Procedures...
03/28/201518:06:00Ecopetrol Notice on the Approval of Amended Rules and Procedures...
03/27/201507:05:59Report of Foreign Issuer (6-k)
03/27/201507:04:34Report of Foreign Issuer (6-k)

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