BRASIL: China Buys 40% Of Repsol's Oil Reserves For... $7.1 Billion.

BLOOMBERG/    Here comes econovore China again!
 This time it is eating up 40% of Repsol's Brasil reserves for...$7.1 billion usd. One analyst calls the valuation of the transaction “surprisingly high."
There's also speculation that the same Chinese state-owned oil firm Sinopec is bidding for Brasil's OGX oil and gas assets valued at $7bn usd.
Repsol believes Brasil's reserves can produce more than 50 million barrels of oil per year by 2018-2020.

OGX Claims Up To 1.5 Billion Bbls Oil In Campos Basin.

BLOOMBERG/
Rio-based OGX claims that its BM-C-43 block, located in the shallow waters of the Campos Basin, may hold between 500 million and 1.5 billion barrels, based on well information and seismic data. The company owns all of the block, according to its Web site.
The company earlier this month also said it found signs of crude in the BM-S-29 block, in the Santos Basin off the coast of Sao Paulo state.

OGX Finds Oil Off Brasil's Coast.

BLOOMBERG/
"OGX Petroleo e Gas Participacoes SA, the Brazilian oil company controlled by billionaire Eike Batista, said it found signs of crude off Brazil’s coast and that it is considering a share split next year.
The discovery is in the BM-S-29 block in shallow waters of the Santos Basin, about 130 kilometers (81 miles) off the coast of Sao Paulo state.
The shares have more than doubled this year on speculation Batista may replicate Petrobras’s success in finding crude off Brazil, site of the largest oilfield discovery in the Americas in the past three decades.