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Petrobras Ends 2020 Better than It Was at the End of Last Year, Despite the Pandemic and the Global Recession of Unprecedented Intensity, Says Roberto Castello Branco
On last Wednesday (12/23), Petrobras began the process of selling its stakes in the Brazilian Transporter Bolivia-Brazil Gas Pipeline – TBG (51%) and in the South Brazilian Gas Transporter S.A. – TSB (25%). Petrobras Puts More 28 Oil Fields for Sale in Bahia to Focus on the Pre-salt of Southeast
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According to the statement made by Petrobras on the morning of this day, with the start of the divestment, all natural gas transportation assets previously in the company’s portfolio in Brazil have been sold or are being divested, demonstrating the company’s commitment to opening the gas market in Brazil.
“Petrobras ends 2020 better than it was at the end of last year, despite the pandemic and the global recession of unprecedented intensity. The company takes another important step toward opening the natural gas market to competition, which will primarily benefit Brazilian society,” says Roberto Castello Branco, president of Petrobras.
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Petrobras announces new oil discovery in the pre-salt of the Campos Basin and reinforces Brazil’s prominence with high-quality reserves that can increase production and energy revenues.
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In addition to the divestments in TBG and TSB, Petrobras is selling the remaining 10% stake in Nova Transportadora do Sudeste S.A. (NTS), which holds 2,000 kilometers of pipelines in the states of Rio de Janeiro, Minas Gerais, and São Paulo. In 2017, the company had already sold the other 90%.
In July 2020, Petrobras completed the sale of its 10% stake in the Associated Gas Transporter S.A. (TAG), owner of 4,500 kilometers of gas pipelines in the North and Northeast regions of Brazil. A year earlier, the company had sold the other 90% it held in TAG.
Billion-Dollar Divestment: Petrobras Finalizes Sale of Liquigás for 4 Billion Reais
Petrobras reported yesterday (12/23) in a relevant fact that it has finalized the sale of all its participation in Liquigás to Copagaz and Nacional Gás Butano for R$4 billion. The transaction was finalized shortly after Itaúsa issued billion-dollar debentures to purchase the leader in the national market for Liquefied Petroleum Gas (LPG) distribution.
Copagaz will be the new controller of Liquigás, together with Itaúsa — an investment company of Itaú Unibanco shareholders. Nacional Gás will acquire a minority stake and, after corporate reorganization, will hold the equivalent of 18% of the volume of LPG sold.
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