Petrobras Sells TAG, Gets $8.7 bln

Laxman Pai
Friday, June 14, 2019

Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras) has concluded the sale of gas pipeline system Transportadora Associada de Gás S.A. (TAG) to a group led by France'sEngie SA and Canada'sCaisse De Depot Et Placement Du Quebec (CDPQ).

According to a stock exchange annoucement, Petrobras received a total of 33.5 billion reais ($8.69 billion) from buyers on Thursday for the 90 percent stake it had in TAG.

Petrobras will continue to use natural gas transportation services rendered by TAG, through contracts already in force between the two companies, with no impacts on its operations and the delivery of natural gas to its clients.

This operation is in line with the company's portfolio optimization and improvement of its capital allocation, aiming value generation for our shareholders.

This report on Form 6-K shall be deemed to be incorporated by reference into the Preliminary Prospectus Supplement, dated June 10, 2019, relating to the previously announced offer by Caixa Econômica Federal of common shares, including common shares represented by American depositary shares, of Petróleo Brasileiro S.A. – Petrobras.

Categories: People & Company News Mergers & Acquisitions Pipelines Gas Pipe

Related Stories

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Petronas to Proceed with South China Sea Oil and Gas Exploration

MCDermott Gets Pipelines and Cables Job at Qatar's Giant Gas Field

OPEC+ Has Oil Price and Demand Problems. It Should Solve Demand

CNOOC Brings Online Another South China Sea Field

Equinor Pulls Out of Vietnam's Offshore Wind Industry

Izomax Wins a Milestone Contract with Shell

Profit Decline, Reserves Downgrade Drag Beach Energy to 2.5-year Low

Shelf Drilling Sells Baltic Jack-Up Rig

Current News

Velesto Completes Removal of Wrecked Naga 7 Jack-Up Rig Off Malaysia

BP Greenlights $7B CCUS Scheme Tied to Indonesia LNG Facility

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Velesto’s Drilling Rigs Up for Automatization Overhaul Under New Tech Alliance

US Firm Finds Chinese Partner to Deliver Mobile Offshore Drilling Units

TotalEnergies and Oil India to Jointly Tackle Methane Emissions Issues

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Global Offshore Wind Stumbles to the End of '24

Seatrium Delivers Fifth Jack-Up to Borr Drilling

Malaysia's FPSO Firm Bumi Armada Eyes Merger with MISC’s Offshore Unit

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com