Portuguese 
English 
Spanish 
2 min of reading 
Petrobras Informed That the Operation Occurred Through an Agreement Between the Uruguayan President, Tabaré Vázquez, and the Company’s President, Roberto Castello Branco.
On this Monday, September 30, the Brazilian state-owned company Petrobras issued a statement saying it has completed the return to the Uruguayan government of the gas distributor concessions that the company held in Uruguay. The state-owned company decided to take the initiative and adhere starting today, 01, to the reduction of sulfur in marine fuel to 0.5% at the expense of the environment.
According to a statement issued by the state-owned company, the subsidiary Petrobras Uruguay Sociedad Anónima de Inversiones (Pusai) transferred its shares in the companies Distribuidora de Gas de Montevideo S.A. (DGM) and Conecta S.A. to the Uruguayan State.
-
Brooms are becoming a thing of the past: new technology with a cordless vacuum cleaner featuring up to 60 minutes of run time, 3x more powerful suction, and anti-mite filters promises to eliminate up to 99% of dust and revolutionize cleaning in 2026.
-
BYD slashes price by R$ 25,000 in Brazil and threatens the Corolla’s reign by offering advanced hybrid technology at an aggressive price in the mid-size sedan market.
-
BYD slashes price by R$ 25,000 in Brazil and threatens the Corolla’s reign by offering advanced hybrid technology at an aggressive price in the mid-size sedan market.
-
BYD slashes price by R$ 25,000 in Brazil and threatens the Corolla’s reign by offering advanced hybrid technology at an aggressive price in the mid-size sedan market.
As a result, Petrobras is exiting the natural gas distribution segment in Uruguay.
Petrobras informed that the operation occurred through an agreement, in accordance with the negotiations held between the Uruguayan president, Tabaré Vázquez, and the company’s president, Roberto Castello Branco, as was announced on July 16.
Petrobras’s operations in Uruguay began in 2004 when it signed concession contracts with Conecta, and in 2006, it signed contracts with DGM.
Since then, Petrobras reported, the scenario for the gas distribution sector in Uruguay has changed drastically due to changes in the conditions for importing Argentine gas, which became the sole source of supply for the country.
The changes caused supply restrictions and economic-financial imbalances in the contracts of distributors in Uruguay.
The problem worsened starting in 2008, with the price of importing Argentine gas to Uruguay multiplying eightfold from 2005 to 2015.
The situation deteriorated when the government abandoned the project to build a regasification plant, which could have solved the supply issue, according to Petrobras.
The plant would reduce the uncertainties and risks associated with importing gas from Argentina. According to Petrobras, since the beginning of the concessions, the losses totaled US$ 116 million.
Petrobras informed that, regarding the international arbitration involving the gas distributor Conecta S.A., the subsidiary’s claim against the Uruguayan government was only partially met, as it decided that the Uruguayan State would have to review the concession contract in full.
Ships Collide in the Bay of São Marcos in São Luís, MA
Be the first to react!