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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
08/04/201417:55:51ADR Shares End Higher; HSBC Shares Trade Actively
07/03/201410:26:23Statoil Divests Some Of Angola Block Stakes
04/25/201419:56:22Colombia's U'wa Indians Continue Oil Protests After Talks Fail
04/24/201422:40:13Colombia Aims to End Oil Companies, Indians Standoff
04/24/201421:57:32Colombia Aims to End Standoff Between Oil Companies, Indians...
04/24/201420:50:47Colombia Aims to End Standoff Between Oil Companies, Indians
12/09/201317:31:15ADR Shares End Mixed as Markets Digest Fed Officials' Speeches
11/07/201310:28:09Ecopetrol: Oil Exports to Asia saw "Significant Increase" in...
10/21/201315:17:14Brazil Awards Libra Oil Field Rights to Consortium of Petrobras...
09/20/201303:10:14Asian National Oil Companies Top Brazil Bidders
09/11/201315:54:08Ecopetrol of Colombia Sells $2.5 Billion in Bonds
09/11/201313:39:09Ecopetrol of Colombia in Market With $2.5 Billion Bond Sale
06/03/201303:18:17Quadrise Fuels Signs Latin America Memorandum with Ecopetrol...
05/24/201313:00:42Colombia's Cano Limon Pipeline Halted After Rebel Attack -Ecopetrol
04/12/201317:04:31ADR Shares End Lower Amid Downbeat U.S. Data, Cyprus Confusion
03/19/201311:28:44Oil Companies Seek Reforms in Peru to Reverse Declining Crude...
03/01/201303:55:10Skanska Gets $51 Million Oil Field Contract in Colombia
02/12/201314:02:50Colombia Rebel Bombings Shut Two of Ecopetrol's Main Oil Pipelines
01/23/201315:30:58Colombia Rebels Blamed Again for Cano Limon Pipeline Bombing;...
01/14/201313:16:49Colombia's Cano Limon Pipeline Resumes Pumping after Attack

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