Brazil To Review $7 Bln Oil Drilling Deal With BP - UK Times

16th Jun 2010 08:10

LONDON (Dow Jones)--Brazil's oil industry regulator is reviewing a $7 billion deal that would allow the beleaguered oil giant BP PLC (BP.LN) to explore Brazilian deepwater sites and a team of top officials has been sent to Texas to question company officials about the catastrophic oil spill in the Gulf of Mexico, U.K. newspaper The Times reports Wednesday. The board of directors of the National Petroleum Agency, which issues licenses and regulates the oil industry in Brazil, is analyzing BP's purchase of deepwater assets from Devon Energy Corp. (DVN) of the U.S., The Times report says. BP's deal with Devon Energy, announced on March 11, also includes deepwater assets in the U.S. Gulf of Mexico. Newspaper Web site: http:www.timesonline.co.uk -London bureau, Dow Jones Newswires; +44 (0)20 78 42 9330; [email protected] (END) Dow Jones Newswires June 16, 2010 03:10 ET (07:10 GMT)