OAO Gazprom Neft has signed an agreement with Malaysia’s Petroliam Nasional Bhd., known as Petronas, to buy a 30 percent stake in a project to develop four blocks off Cuba, as the Russian oil producer expands abroad.
The agreement requires approval by Cuban authorities to become effective, Gazprom Neft, the oil arm of Russia’s natural- gas export monopoly, said today in an e-mailed statement.
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Source: Bloomberg
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