(MENAFN) Royal Dutch Shell Plc and India's Oil and Natural Gas Corp (ONGC) have bought 35 percent stake in Brazil's state-run Petroleo Brasileiro SA, according to the Peninsula Qatar.
The purchase included a Brazilian offshore oil block.
Shell said it plans to purchase an additional 23 percent of BC-10, raising its stake to 73 percent. ONGC plans to purchase an additional 12 percent, boosting its stake to 27 percent
Shell and ONGC have refused to buy Petrobras's offer to purchase the latter's 35 percent stake in China's Sinochem for USD1.56 billion.
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