Bolivian Oil Company YPFB Seeks Purchase Offer for Petrobras' GASBOL

Bolivian Oil Company YPFB Seeks Purchase Offer for Petrobras’ GASBOL

Written by Paulo Nogueira

Published on 11/07/2019 at 01:00

Updated on 10/07/2019 at 20:28

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YPFB – Bolivian State Oil Company, Announced on Tuesday, 09, Its Interest in Launching a Purchase Offer for Petrobras Pipeline, Which Brings Gas from Bolivia to Brazil.

Bolivian oil company YPFB expressed its interest on Tuesday, July 09, in launching an offer for a stake in the pipeline that brings gas from Bolivia to Brazil. The state-owned company states that the objective would be to secure better terms for its commercialization.

The Bolivian company intends to make the bid for an undisclosed portion of the 51% stake owned by Petrobras in the Brazilian Transporter Bolivia-Brazil Gas Pipeline (TBG), which transports Bolivian natural gas from the border between the countries to São Paulo, the company stated in a release.

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On Monday, July 8, Petrobras stated that it would sell its stake in TBG as part of an agreement with Cade (Administrative Council for Economic Defense), which foresees a series of divestments from the oil company.

Petrobras pointed out that the agreement will protect competitive conditions, as well as encourage new participants to enter the natural gas market, but did not clarify when or how it will carry out the asset sales.

The agreement between the oil company and Cade is the reason for the opening process of the gas market. The government estimates that this deal will attract investments of up to R$ 32.8 billion in new pipelines and terminals by 2032 and reduce prices by up to 40% to stimulate industry and boost economic growth.

The Brazil-Bolivia pipeline is the main transport channel for gas in the country. It crosses Mato Grosso do Sul, São Paulo, Paraná, Santa Catarina, and Rio Grande do Sul, passing through 136 cities.

Through it, 30 million m3 of gas are delivered daily to seven local distributors. The pipeline also directly supplies thermoelectric plants and refineries along its route.

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Bolivian Oil Company YPFB Seeks Purchase Offer for Petrobras’ GASBOL

YPFB – Bolivian State Oil Company, Announced on Tuesday, 09, Its Interest in Launching a Purchase Offer for Petrobras Pipeline, Which Brings Gas from Bolivia to Brazil.

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