--A BP PLC (BP, BP.LN) proposal to buy Total SA's (TOT, FP.FR) 49% stake in a natural gas project was rejected by Venezuela's oil ministry in October, Reuters reported Monday. Equinor ASA (EQNR, EQNR.OS) owns 51%.

--The project is on the maritime border with Trinidad and Tobago, and BP owns the rights to the Trinidadian side. The ministry said the area's reserves needed to be re-estimated, according to the report.

https://www.reuters.com/article/us-venezuela-total-bp-exclusive/exclusive-venezuela-rejected-bp-bid-to-buy-totals-stake-in-gas-block-sources-idUSKCN1NV2B9

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 26, 2018 14:32 ET (19:32 GMT)

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