Petrobras Will Return Two Gas Distribution Companies to the Uruguayan Government

Written by Renato Oliveira

Published on 17/07/2019 at 15:11

Petrobras e governo uruguaio

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Countries Were Already Negotiating the Termination of Concessions of Two Gas Distributors in Uruguay. Petrobras President Had Already Stated That the Deal Was Unprofitable, in Addition to Being on the Company’s Divestment List.

A meeting between Petrobras President, Roberto Castello Branco, and Uruguay’s President, Tabaré Vázquez, yesterday (07/16), finalized an agreement to end the concessions that the Brazilian state-owned enterprise had in the neighboring country.
The Brazilian oil company operates the distributors MontevideoGas and Conecta, established in 1994 and 1999, respectively.

The Petrobras president even stated that “The scale we have in Uruguay does not interest us.” The state-owned company buys natural gas from Argentina at market prices and in Uruguay at regulated prices. “These deals are unprofitable,” he added.

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Petrobras Management Plan

Under the agreement, by September, Petrobras will return full control of the two companies to the Uruguayan government, which also established that both countries will take the necessary measures to end the pending litigations, with no additional claims of any kind, including a guarantee from the Uruguayan government to continue services.

In a statement to the press, Petrobras also emphasized that: “To operationalize the agreement, a working group will be formed with representatives from the parties involved, in coordination with the presidents”.

The initiative reinforces Petrobras’s planning under the management of the new federal government, which has implemented a rigorous divestment plan, aiming to focus on the company’s specialized activities, which are deep and ultra-deep oil exploration and production.

November’s pre-salt bidding rounds in Brazil will feature intense competition from major global operators. Although Petrobras may exercise its right of first refusal, the largest global operators are already devising strategies to acquire blocks in the coveted Búzios field and other assets.

Petrobras Will Return Two Gas Distribution Companies to the Uruguayan Government

Countries Were Already Negotiating the Termination of Concessions of Two Gas Distributors in Uruguay. Petrobras President Had Already Stated That the Deal Was Unprofitable, in Addition to Being on the Company’s Divestment List.

Petrobras Management Plan

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Petrobras Will Return Two Gas Distribution Companies to the Uruguayan Government

Countries Were Already Negotiating the Termination of Concessions of Two Gas Distributors in Uruguay. Petrobras President Had Already Stated That the Deal Was Unprofitable, in Addition to Being on the Company’s Divestment List.

Petrobras Management Plan

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

Seven world powers including the US, China, and Russia are spending €22 billion on a reactor in the south of France that aims to confine plasma at 150 million degrees Celsius, ten times the temperature of the Sun’s core, using a magnetic field capable of lifting an entire aircraft carrier.

With a wingspan of 152 meters, 76 tires, and a capacity to carry 1,270 tons, the Boeing Pelican was the giant “flying ship” that promised to cross oceans close to the water on an invisible air cushion beneath its wings.

Elon Musk’s internet comes to mobile: Starlink technology connects smartphones without an antenna via satellite, works even without carrier signal, already costs just US$10 extra in the US, and could arrive in Brazil as an included benefit.

While countries spend billions to draw water from the sea, a Nobel-winning scientist creates a container-sized machine that extracts up to 1,000 liters per day from dry air and uses ultrasound to release water in minutes, even in the middle of the desert.

After 16 years and almost 600 prototypes, a Chinese inventor unveils the world’s smallest and cheapest manned jet, at just 3.80 meters long and costing US$7.2 thousand in materials.

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