Petrobras' Acquisition of Oil Fields by BW Energy Delayed Following Suspension of State-Owned Company's Divestments by the Ministry of Mines and Energy (MME)

Petrobras’ Acquisition of Oil Fields by BW Energy Delayed Following Suspension of State-Owned Company’s Divestments by the Ministry of Mines and Energy (MME)

Written by Ruth Rodrigues

Published on 04/03/2023 at 01:37

Foto: Saipem

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The MME Determined the Suspension of the Sale of the Oil Company’s Assets for a Review of the National Energy Policy. Now, the Transaction of BW Energy with Petrobras for the Purchase of Brazilian Oilfields is Facing Delays, Reports Multinational.

The multinational energy company BW Energy recently announced new delays in the process of acquiring Petrobras’ deepwater oil fields of Golfinho and Camarupim. The assets, located in the Espírito Santo Basin, are part of the divestment plan of the state-owned company, which had to be suspended following a recommendation from the Ministry of Mines and Energy (MME). The multinational emphasized that it will keep the global market updated on decisions regarding the transaction.

MME Determines Suspension of Petrobras’ Divestment Projects in Its Oil Fields and Delays the Oil Company’s Transaction with BW Energy

Petrobras continues to feel the impact of the MME’s decision to suspend the sale process of its oil fields in the international market. In addition to the shares having plunged after the announcement this Wednesday, the company’s transactions are now threatened.

BW Energy, which was negotiating the purchase of the deepwater oil fields of Golfinho and Camarupim, located in the Espírito Santo Basin, announced that the ministry’s request will delay the finalization of the acquisition.

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In addition to the review of the National Energy Policy by Petrobras, the establishment of a new composition of the National Energy Policy Council (CNPE) is another factor that led the MME to make the decision to suspend the sale of the company’s assets.

The Lula Government has already reinforced its position regarding the privatization processes of the state-owned assets. The goal is to keep as many oil fields under federal control as possible.

The ministry’s decision is significantly affecting the oil company’s processes, even though Petrobras insists this is not happening.

The state-owned company’s shares fell considerably over the last Wednesday, due to uncertainty about investments in the company’s oil fields.

Now, BW Energy highlights the delays in the purchase of the oil company’s assets in the Espírito Santo Basin.

In the coming days, what is expected is that the transaction of BW Energy with Petrobras will not be affected, as well as new updates from the MME regarding the process of selling the company’s oil fields.

Petrobras’ Acquisition of Oil Fields by BW Energy Delayed Following Suspension of State-Owned Company’s Divestments by the Ministry of Mines and Energy (MME)

The MME Determined the Suspension of the Sale of the Oil Company’s Assets for a Review of the National Energy Policy. Now, the Transaction of BW Energy with Petrobras for the Purchase of Brazilian Oilfields is Facing Delays, Reports Multinational.

MME Determines Suspension of Petrobras’ Divestment Projects in Its Oil Fields and Delays the Oil Company’s Transaction with BW Energy

Lula Government Seeks to Keep Petrobras’ Assets Under the Company’s Control. Company Highlights it Will Keep the Market Updated on the Transaction

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Petrobras’ Acquisition of Oil Fields by BW Energy Delayed Following Suspension of State-Owned Company’s Divestments by the Ministry of Mines and Energy (MME)

The MME Determined the Suspension of the Sale of the Oil Company’s Assets for a Review of the National Energy Policy. Now, the Transaction of BW Energy with Petrobras for the Purchase of Brazilian Oilfields is Facing Delays, Reports Multinational.

MME Determines Suspension of Petrobras’ Divestment Projects in Its Oil Fields and Delays the Oil Company’s Transaction with BW Energy

Lula Government Seeks to Keep Petrobras’ Assets Under the Company’s Control. Company Highlights it Will Keep the Market Updated on the Transaction

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Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

An entire island in the Pacific wants to surround itself with a colossal barrier against the ocean to try to escape increasingly violent waves and not be swallowed by the sea in the coming decades.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

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