Gas Processing & LNG is Produced by Gulf Publishing Holdings LLC



Petrobras delays delivery of bids for LPG unit

Brazil’s state-controlled oil company Petroleo Brasileiro SA has delayed until next week the delivery of binding proposals for its liquefied petroleum gas (LPG) distribution unit Liquigas, a source with direct knowledge of the matter told Reuters.

Petrobras, as the firm is known, decided to delay the offers after interested parties asked for more time to conduct due diligence on the unit, said the source, who requested anonymity as the matter is private.

Liquigas is one of dozens of assets Petrobras has put up for sale in a massive divestment drive aimed at reducing debt and sharpening the company’s focus on deepwater oil exploration and production.

Petrobras has already signed deals for about $12.8 billion of divestments this year.

This week, Reuters reported that groups led by Brazilian investment firm Itausa Investimentos SA, Abu Dhabi state investor Mubadala and SHV Energy of the Netherlands were expected to submit binding proposals for the unit.

Liquigas is expected to fetch between 2.5 billion and 3 billion reais ($757 million), Reuters reported.

Newspaper Valor Economico first reported on the delay. The newspaper, citing people familiar with the matter, said the new date for bids was Aug. 16.

Petrobras did not immediately respond to a request for comment.

$1 = 3.97 reais Reporting by Rodrigo Viga Gaier; Additional reporting by Tatiana Bautzer in Sao Paulo; Writing by Gram Slattery; Editing by Bernadette Baum and David Gregorio

 


Copyright © 2019. All market data is provided by Barchart Solutions. Futures: at least a 10 minute delay. Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.

                                  CMEGroup                                     Icelogo

FEATURED COLUMNS

Editorial Comment
-Adrienne Blume
The $26-B small-scale LNG market is gaining exciting traction this year.
Regional Focus: Singapore moves closer to becoming a global LNG trading hub
-Eugene Gerden
Amid strong demand for LNG in the Asia-Pacific region and the need to secure regular gas supplies on a large scale, Singapore may become a major regional hub for LNG trade.
Show Preview
-Adrienne Blume
For the third time in its 47-yr history, Gastech is returning to Houston, Texas.


Reliable Operations & Saving OPEX for Gas Plant Refrigeration – Selecting the right technologies

Register Now

By selecting integrally geared turbocompressors for gas plant refrigeration duty coupled with a mag bearing turboexpander, operators get the added values of technology with highly reliable operations and reduced OPEX. Join Sami Tabaza and Chris Blackmer from Atlas Copco Gas and Process for a presentation followed by Q&A surrounding the turbocompressor and turboexpander technologies that can efficiently and reliably fit your gas plant design and operation to get the advantages of both technologies.

June 18, 2019 10:00 AM CDT

Register Now

 

Please read our Term and Conditions, Cookies Policy, and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2019 Gulf Publishing Holdings LLC.