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Petrobras denies talks to sell Libra oil stake to ONGC Videsh

Tuesday, 14 Jan 2014 | 11:04 AM ET

RIO DE JANEIRO, Jan 14 (Reuters) - Brazil's state-run oil company Petroleo Brasileiro SA, or Petrobras, on Tuesday "emphatically denied" that it is in talks with India's ONGC Videsh to sell part of its stake in the giant Libra offshore prospect in Brazil.

Earlier on Tuesday ONGC Videsh's administrative director D.K. Sarraf said the two companies were discussing a possible sale of a small stake in Libra. Petrobras denied the talks in an e-mailed response to questions from Reuters.

The Libra offshore prospect contains an estimated 8 billion to 12 billion barrels of recoverable oil and is owned by Petrobras, Royal Dutch Shell Plc, France's Total and Chinese oil companies CNOOC Ltd and China National Petroleum Corp.

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