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Petronas-related stocks higher after successful bid in Brazil

KUALA LUMPUR, Oct 11 -- Petroliam Nasional Bhd (Petronas) -related stocks traded higher on the local bourse following its success in bagging three exploration blocks during Brazil’s exploration blocks bid round held at Rio de Janeiro yesterday.

At 10.19 am, Petronas Chemical’s shares were up ten sen to RM7.19, with 165,800 changing hands, Petronas Gas’ stocks rose two sen to RM16.40, with 100 shares traded and Petronas Dagangan improved four sen to RM23.14, with 2,200 shares exchanged.

Petronas’ subsidiary, Petronas Petróleo Brasil Ltda (PPBL) won blocks CM 661, CM 715 and CM 541, all located in the Campos Basin, offshore Brazil, in a public announcement made by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) during the ANP Round-16 Concession’s Bid Round.

For Blocks CM 661 and CM 715, PPBL as the operator holds 100 per cent equity, for Block CM 541, France’s Total, as the operator holds 40 per cent equity, Qatar Petroleum (40 per cent) and PPBL holds the remaining 20 per cent equity.

-- BERNAMA

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