RIO DE JANEIRO Jan 14 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.