SAO PAULO, Brazil (AP): Brazil's state-run oil company announced a deal Friday to buy Exxon Mobil's fuel distribution operations in Chile, continuing its expansion across Latin American energy markets.
Petroleo Brasileiro SA said it will pay US$400 million to takeover Exxon's Chilean retail, industrial and aviation fuel businesses by June 2009, giving the Brazilian company control of 16 percent of Chile's retail fuel market.
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