BP in Talks to Sell Brazil Oil Discovery Stake to Petrobras

Key Facts

BP is in discussions to sell a stake in a Brazilian oil discovery to Petrobras. Bloomberg reported that the negotiations involve the sale of a portion of the British company's interest in an offshore discovery to the state-controlled Brazilian firm.

The move aligns with BP's strategy to high-grade its portfolio while Petrobras focuses on expanding domestic production in prolific basins. This development follows economic data from Brazil showing the annual inflation rate reached 4.62% on November 12, 2026, while the trade balance recorded a surplus of 9.32 billion on November 6, 2026.