• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours Reality catching up with EV forecasts
  • 10 hours A Somewhat Realistic View of the Near Future for Electric Vehicles Worldwide
  • 21 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 11 days US Oil Independence is a myth and will always be a myth
  • 6 days The Federal Reserve and Money...Aspects which are not widely known
  • 11 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 15 days Natural gas price to spike when USA is out of the market
  • 14 days "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 14 days *****5 STARS - "The Markets are Rigged" by The Corbett Report

Breaking News:

Freeport LNG Gets Regulatory Approval

Major Energy Firms Could Vie For Brazil’s Opening Natural Gas Sector

Major energy firms could be interested in buying stakes in Brazilian state-held natural gas distribution companies as Brazil is looking to open the sector to more competition, experts have told Reuters.

According to experts and analysts who spoke to Reuters, Brazil’s plan could lead to a wave of privatizations in the natural gas sector. Some major energy firms, including France’s Engie, Spain’s Repsol and Naturgy Energy, Portugal’s GALP, and Brazil’s Cosan SA could be interested in taking stakes in the natural gas distribution sector, consultants and experts told Reuters.  

Brazil adopted at the end of last month a plan to bolster competition in the natural gas sector and called upon companies with a “dominant position” on the market to sell some or all of their interests in gas distribution companies.

ADVERTISEMENT

This could mean that Brazil’s state-held oil and gas giant Petrobras may be forced to sell stakes in more than half of 27 natural gas distributors across Brazil.

Just last week, Petrobras said that it had signed an agreement with Brazilian antitrust regulator, Administrative Council for Economic Defense (CADE), to sell stakes in a number of natural gas transportation and distribution companies.

ADVERTISEMENT

“The purpose of the Agreement is to preserve and protect the competitive conditions, aiming to open the Brazilian natural gas market, encouraging new agents to enter this market, as well as suspending administrative procedures established by CADE to investigate Petrobras' natural gas business,” Petrobras said in a stock exchange filing.

At the beginning of this year, reports emerged that Brazil was pushing for major state-owned companies, including Petrobras, to privatize some subsidiaries as the Brazilian government of new far-right President Jair Bolsonaro looks to raise US$20 billion in state asset sales in 2019.

Petrobras said earlier this month that it is putting up for sale two operating shallow-water offshore gas fields and a deepwater oil exploration concession in the Espírito Santo Basin, as part of its efforts to optimize its portfolio and improve capital allocation.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

ADVERTISEMENT


ADVERTISEMENT


Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News