Engie Reaffirms Its Interest in TAG After STF Injunction

Written by Paulo Nogueira

Published on 29/05/2019 at 07:58

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Engie Maintains Interest in TAG After STF Restraining Order, The Company Led the Purchase of TAG from Petrobras for US$ 8.6 Billion.

In a restraining order granted last Friday, May 24, after a request from unions, Edson Fachin, a minister of the Supreme Federal Court (STF), overturned a decision made last January by the Superior Court of Justice (STJ) that had revoked a restraining order against the sale of TAG’s pipeline unit by Petrobras.

Engie led the purchase of TAG from Petrobras for US$ 8.6 billion, in a deal announced last month. Fachin’s decision responded to a request from oil worker unions.

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STF to Decide on Thursday Whether Privatization of State-Owned Companies Requires Congressional Approval

Toffoli included in Thursday’s plenary agenda the judgment of a case that discusses whether privatizations of state-owned companies require prior approval from the National Congress or to go through a bidding process.

Toffoli decided on Monday night to bring the issue before the STF plenary on Thursday, according to the Supreme’s system.

The court’s plenary should also review the same day a restraining order granted by Minister Edson Fachin, which suspended Petrobras’s sale of 90% of TAG to a group led by the French utility Engie for US$ 8.6 billion. This decision by Fachin was made public this Monday.

The Supreme ministers are expected to confirm or reject the restraining orders granted by Lewandowski and Fachin.

In both cases, the discussion is expected to revolve around whether it is necessary to carry out a bidding procedure and obtain prior legislative authorization for the transfer of share control of state-owned companies, as is the case with Petrobras subsidiaries.

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Engie Reaffirms Its Interest in TAG After STF Injunction

Engie Maintains Interest in TAG After STF Restraining Order, The Company Led the Purchase of TAG from Petrobras for US$ 8.6 Billion.

STF to Decide on Thursday Whether Privatization of State-Owned Companies Requires Congressional Approval

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Engie Reaffirms Its Interest in TAG After STF Injunction

Engie Maintains Interest in TAG After STF Restraining Order, The Company Led the Purchase of TAG from Petrobras for US$ 8.6 Billion.

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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.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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Humanity has sent over 40 missions to Mars, and about half of them have failed: the engine that slows down the spacecraft cannot be tested on Earth, and those who go may not be able to return.