China’s Sinochem Looks to Sell Its 40% Stake in Brazilian Oilfield

Chinese energy and chemicals giant Sinochem Group is in discussions to sell its 40% stake in a producing oilfield offshore Brazil, Bloomberg reported on Friday, citing sources with knowledge of the talks. Sinochem, which paid $3.07 billion for a 40% stake in the Peregrino oil and gas field in the Campos basin in 2011, is now in talks to sell the stake to independent producer Prio SA. It is not certain that the talks will lead to an agreement, while the price of a potential deal is unclear, according to Bloomberg’s sources. Norway’s…