Market Chatter: BP Said to Weigh Sale of Brazil Oil Block Stake to Petrobras

06:14 AM EST, 11/12/2026 (MT Newswires) -- BP Plc (BP.L) is negotiating a stake sale in the Bumerangue oil block offshore Brazil to Petrobras, Bloomberg reported Thursday, citing people familiar with the matter. The British energy company said the discovery holds 8 billion barrels of liquids. Talks with Petrobras could end without a transaction, according to the report. BP and Petrobras did not immediately respond to a request for comment from MT Newswires. (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.)