U.S.-based fund manager BlackRock has bought a 5.15 percent equity share in Brazilian oil company HRT Participacoes em Petroleo, The Wall Street Journal reports. While BlackRock now owns 299,900 common shares of HRT, the investment, advisory and risk management solutions provider does not aim to change the management of the oil start-up.
The oil firm is still at a pre-operational stage, with drilling going on at exploration sites in the Solimoes Basin in Brazil’s Amazon rainforest. HRT possesses operator interests of 55 percent in 21 sections in the Solimoes Basin in Brazil’s Amazonas state.
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