Market Chatter: BP in Talks With Petrobras to Sell Stake in OffShore Oil Field

05:56 AM EST, 11/12/2026 (MT Newswires) -- BP (BP) is in talks with Petrobras (PBR) to sell a stake in the Bumerangue oil block off the coast of Brazil, Bloomberg reported Thursday, people with the matter. Negotiations are ongoing and a deal may not come to fruition, the report said. Petrobras has experience in the deepwater operations necessary to draw oil from the field, the report said. A final investment decision is not expected before 2027, it said. BP and Petrobras did not immediately reply to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)