Brazil's Cosan unit bids for Petrobras' majority Gaspetro stake
Brazilian energy company Cosan SA said on Monday its subsidiary Compass Gas e Energia has placed a bid for state-run oil company Petroleo Brasileiro SA’s 51% stake in Gaspetro.
Cosan did not reveal details of the size of Compass’ bid for Petrobras’ Gaspetro stake, due to the competitive nature of the bidding process. Petrobras, which is trying to divest its broad energy sector holdings, put its stake on the market at the end of February. Japan’s Mitsui holds the other 49% of Gaspetro.
Last month, Cosan said it would cancel its planned initial public offering of Compass Gas e Energia, the country’s largest natural gas distributor, due to market conditions.
(Reporting by Gabriel Araujo, writing by Gabriel Stargardter, editing by Stephen Eisenhammer and Chris Reese)
- ExxonMobil halts 1-Bft3d blue hydrogen project in Texas
- Aramco and Yokogawa commission multiple autonomous control AI agents at Fadhili gas plant
- Ukraine will resume gas imports via Transbalkan route in November
- Mitsubishi to inject $260 MM into Brunei LNG project
- Freeport LNG (U.S.) on track to take in more natgas on Thursday after unit outage
Comments