Argentina, Brazil clinch deal on oil exploration in Argentine offshore

Two state-owned oil companies from Argentina and Brazil have clinched a deal to jointly explore oil deposits in Argentina’s offshore area, the firms said on Thursday. Brazil’s Petrolos Brasileos, or Petrobras, and Argentina’s Energia Argentina SA, known as Enarsa, said in a statement that they were “in the process of signing contracts” for a five-year project worth 100 million U.S. dollars.