Petrobras Distribuidora negotiates the purchase of 50% of Golar Power to establish a partnership in the natural gas market - LNG

Golar Power does not intend to buy natural gas from Petrobras and the state-owned company has already signaled that it intends to fully exit the capital of BR Distribuidora.

Despite Petrobras' plan to liquidate the remaining position of 37,5% in the capital of BR Distribuidora, the company may acquire 50% of Golar Power, as part of the partnership that BR is negotiating with Golar to operate in the distribution of liquefied natural gas (LNG). Government vetoes Brasduto – Gas Pipeline Expansion Fund that would be financed with pre-salt resources

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The information is contained in a document sent by representatives of the two companies to the Administrative Council for Economic Defense (Cade).

According to the document, Petrobras Distribuidora has an option to buy 50% of the shares of Golar Distribuidora, which intends to enter the LNG liquefied natural gas distribution market in Brazil.

INDUSTRY AND TRADE – FREE MARKET

Last week, the parties forwarded a response to Cade's questions about the risks of an eventual coordination between GásLocal (a company owned by White Martins and Petrobras, for the distribution of LNG) and Golar Distribuidora (BR/Golar), since Petrobras will hold direct/indirect stake in both LNG companies.

BR and Golar allege, among other points, that Golar Distribuidora does not intend to buy natural gas from Petrobras and that the state-owned company has already signaled that it intends to fully exit the capital of BR Distribuidora.

Even so, today, according to the parties, the oil company, as a shareholder in BR with a 37,5% stake, would hold an indirect stake in Golar Distribuidora of a maximum of 18,75%, without controlling the activities.

Petrobras Revap refinery breaks record for LPG cooking gas sales and S-10 Diesel production

Petrobras' Henrique Lage Refinery broke two records in August! Revap surpassed for the third time this year the sale of LPG (cooking gas) and for the third consecutive month managed to surpass the production of Diesel S-10. The state-owned unit is located in São José dos Campos – São Paulo

According to the statement, made by Petrobras yesterday (10/09), the Revap refinery, sold in August, 80.204 tons sold, the equivalent to 6,16 million cylinders, against 75.730 tons of the previous record, reached in June, representing an increase of 5,9%. The first record of the year had been obtained in May, with 71.115 tons.

For the third consecutive month, Petrobras achieved a new production record for low-sulfur diesel (S-10). The state-owned refineries produced 1,84 million m³ of the product in August, a slightly higher amount compared to July (1,81 million m³) and 15% higher than the June mark of 1,6 million m³.