Brazilian mining and iron ore producer Vale is selling its oil and gas assets to focus solely on iron ore, local Brazilian reports said.
According to media reports, one the remaining upstream oil and gas licenses Vale had was now sold to London-based Baron Oil.
Baron will acquire 100 percent of a large onshore concession in northwestern Peru.
Source:
http://www.steelorbis.com/steel-news/latest-news/vale-to-divest-oil-and-gas-assets-to-focus-on-iron-ore-845681.htm
