Statoil ASA (STO) agrees to sell 40% of the Peregrino field offshore Brazil to Sinochem for just...

|By:, SA News Editor

Statoil ASA (STO) agrees to sell 40% of the Peregrino field offshore Brazil to Sinochem for just over $3B. Sinochem is thought to have outbid CNOOC (CEO) and Sinopec (SNP) for the stake. Desipte the "very strong" price, STO is -5.9% premarket; Statoil is also busy dealing with a problematic well in the North Sea, and authorities describe the situation as "serious."