BHP talks to Petrobras about Gulf oil stake

Miner BHP Billiton is in talks with Petrobras to buy a stake in the Brazilian energy giant's Gulf of Mexico oil fields, according to an article in the Wall Street Journal published late Wednesday night.

Miner BHP Billiton is in talks with Petrobras to buy a stake in the Brazilian energy giant's Gulf of Mexico oil fields, according to an article in the Wall Street Journal published late Wednesday night.

Petrobras, the Brazilian state-owned oil company, has reportedly valued its US offshore fields at approximately $8bn and enlisted Morgan Stanley to find a buyer for some of these assets.

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