Comgás and Petrobras End Legal Dispute

Supply contracts are extended to December 2021 and the companies are negotiating new terms

Supply contracts are extended to December 2021 and the companies are negotiating new terms
From the Media

Nov 19, 2018 - Bloomberg

Economist Roberto Campos Neto will take the reins of Brazil’s central bank under incoming President Jair Bolsonaro with the benchmark rate at a record low and inflation close to target. Campos Neto, Treasury director for the Americas at Banco Santander, will replace Ilan Goldfajn, according to a text message from incoming Finance Minister Paulo Guedes. The appointment needs to be approved by Congress.

Nov 19, 2018 - The Independent

Brazil’s new foreign minister believes climate change is a Marxist tactic to instil fear, stifle the economic growth of western countries, and benefit China. The appointment of Ernesto Araújo, who has been named by president-elect Jair Bolsonaro as the country’s top diplomat, will be a major cause for concern for those already alarmed at the extent of global climate collapse. Brazil’s outgoing government has already been heavily criticized for “inviting deforestation”, in the Amazon – the world’s largest and most biodiverse rainforest, which is vital for soaking up carbon emissions.

Nov 19, 2018 - Reuters

LyondellBasell Industries NV is close to presenting a binding offer to acquire control of Brazilian petrochemical company Braskem SA, two people with knowledge of the matter said. LyondellBasell is discussing the extension of a long-term naphtha supply contract with Petrobras seen as pivotal to valuing Braskem, and talks between the companies are expected to finish over the next days, the sources said, asking for anonymity because talks are private. A binding offer could be delivered as soon as the end of this month, the people said.

Nov 19, 2018 - Sterlite Power

Sterlite Power of India participated in the transmission auction held by the Brazilian Government last Friday, and won the largest lot of the auction of ~ US $ 800 million. The 1,800 km transmission project represented one-third of the total auction value, which had global majors such as State Grid of China, Engie and Elecnor in the fray. The bid of Sterlite had a discount of 35.72% over the proposed maximum annual revenue and was one of the lowest discounts of the auction, which had an average discount of 40.46%. Sterlite had won two projects in the earlier auction in April 2017.