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2019-04-08 11:15:00

GAS PIPELINE FOR BRAZIL $8.6 BLN

GAS PIPELINE FOR BRAZIL $8.6 BLN

REUTERS - A consortium led by French utility Engie has won a bid for Petrobras' TAG pipeline arm with an $8.6 billion offer, in a deal that boosts Engie's presence in a fast-growing sector and will help Petrobras cut its debts.

Engie said on Monday its successful offer for a 90 percent stake in TAG was made by a consortium involving Engie and Canada's Caisse de Dépôt et Placement du Québec (CDPQ). Petrobras will keep a 10 percent stake in TAG.

Engie said buying TAG would provide it with a steady stream of profits, with TAG accounting for 47 percent of Brazil's entire gas infrastructure.

"Our acquisition of TAG is a significant milestone for ENGIE in Brazil, a key market for the group where we have been present for 23 years," said Engie Chief Executive Isabelle Kocher.

"It is fully aligned with Engie's strategy to become the leader of the zero-carbon transition, supporting Brazil in the decarbonization of its energy mix," added Kocher.

Under Kocher, Engie has been focusing its investments on energy services, renewable energy and infrastructure assets, while selling out of coal-related assets.

Engie said the acquisition of TAG, which had 2018 core earnings of $1.14 billion, would result in Engie's net debt increasing by around 1.6 billion euros ($1.8 billion).

The TAG divestment also represents a victory for Petrobras' leadership and its Chief Executive Roberto Castello Branco, who is pushing to unload assets in a bid to cut debt and refocus on exploration and production.

In September 2016, Petrobras sold a larger gas network pipeline, Nova Transportadora do Sudeste, for $5.2 billion to Brookfield Infrastructure Partners LP, which beat out a bid by Engie.

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Earlier:

 

 PETROBRAS WILL SELL $10 BLN
2019, March, 20, 10:05:00

PETROBRAS WILL SELL $10 BLN

Brazilian state-led oil producer and refiner Petrobras expects to ramp up its divestments in the near term, with a series of deals expected to close by the end of April, according to Chief Executive Roberto Castello Branco.

 
 PETROBRAS OIL DOWN
2018, December, 29, 13:50:00

PETROBRAS OIL DOWN

PLATTS - Brazilian state-led oil company Petrobras registered a 1.4% month-on-month slide in domestic crude oil output in November as ongoing maintenance work at offshore floating production units offset fresh flows from new wells.

 
 BRAZIL'S NUCLEAR POWER
2018, December, 10, 08:25:00

BRAZIL'S NUCLEAR POWER

REUTERS - Angra 3 would be Brazil’s third nuclear plant. Earlier this year sources told Reuters that the project was struggling to find investors. Albuquerque said that up to 49 percent of the project was open to private investment.

 
 BRAZILIAN OIL PRODUCTION UP 5%
2018, December, 5, 09:45:00

BRAZILIAN OIL PRODUCTION UP 5%

PLATTS - Oil production averaged 2.614 million b/d in October, jumping 5.2% from 2.486 million b/d in September, Brazil's National Petroleum Agency, or ANP, said late Monday. October's output, however, was down 0.5% from 2.627 million b/d in October 2017, the ANP said.

 
 PETROBRAS - CNPC COOPERATION
2018, October, 17, 09:55:00

PETROBRAS - CNPC COOPERATION

PLATTS - Petrobras is to form two joint venture companies with China National Petroleum Corp. (CNPC) to complete construction of a refinery and revitalize four mature fields in the offshore Campos Basin, the state-owned Brazilian company said

 
 СПГ НОВАТЭК ДЛЯ БРАЗИЛИИ
2018, September, 26, 09:00:00

СПГ НОВАТЭК ДЛЯ БРАЗИЛИИ

НОВАТЭК - ПАО «НОВАТЭК» (далее – «НОВАТЭК» и/или Компания) сообщает, что дочернее общество Компании Novatek Gas and Power Asia Pte. Ltd. поставило на рынок Бразилии первую партию сжиженного природного газа (СПГ), произведенную на проекте «Ямал СПГ». Партия была доставлена компании Petrobras на регазификационный терминал Баия.

 
 PETROBRAS NET INCOME R$ 17 BLN
2018, August, 8, 11:35:00

PETROBRAS NET INCOME R$ 17 BLN

PETROBRAS - Petrobras reported net income of R$ 17 billion in the first half of 2018. The positive result was mainly influenced by the increase in international oil prices, associated with the depreciation of the Brazilian Real against the US dollar. In the same period, net debt fell 13% compared to December 2017, to US$ 73.66 billion.

 

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Tags: GAS, PIPELINE, BRAZIL, TAG, PETROBRAS, ENGIE

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