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Brazil's Petrobras starts process to sell stake in Argentina unit Mega

Brazilian state-owned oil giant Petroleo Brasileiro SA has begun the so-called non-binding phase of the process to sell its 34% stake in Argentina’s Compañia Mega SA, it said in a securities filing.

In the filing, Petrobras, as the firm is commonly known, said Mega operates a plant with capacity to produce more than 40 million cubic meters of natural gas per day.

Petrobras first announced its intention to sell the stake in May, and the sale is part of its ongoing divestment program. (Reporting by Jamie McGeever Editing by Chizu Nomiyama)


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FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
On the changing landscape of global natural gas trade, the US has magnified its export power by remaining a net exporter for 13 months as of February 2019.
EWAnalysis: US LNG producers eye major growth
- Energy Web Atlas
The US LNG market has experienced rapid growth over the past decade due to the availability of inexpensive feedstock and increased worldwide demand.
Regional Focus: Nigeria moves to expand its liquefaction capacity
-Shem Oirere
The award in July 2018 of long-awaited contracts for the front-end engineering design (FEED) of Nigeria’s Train 7 gas plant expansion project to two consortia is the country’s latest attempt to address the enormous challenges of gas flaring and gas shortages for power plants and domestic consumption.


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