trending Market Intelligence /marketintelligence/en/news-insights/trending/0_EqjwWC-gMKbDGySvAx1A2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Petrobras unit to sell stake in biofuel JV to partner

S&P podcast - Coronavirus pandemic, oil price crash shake up energy sector

Case Study: A Utility Company Efficiently Sharpens Its Focus on the Credit Risk of New Customers

Energy Evolution Podcast

Energy Evolution Why solar energy could get even cheaper

Energy Evolution Podcast

US energy officials push innovation to meet evolving energy needs


Petrobras unit to sell stake in biofuel JV to partner

Petróleo Brasileiro SA said its subsidiary Petrobras Biocombustíveis SA signed a contract to sell its 50% stake in biofuel and vegetable oil production company Belem Bioenergia Brasil SA, according to an Aug. 8 news release from the Brazilian state-controlled company.

The Petrobras unit will sell the interest to its joint venture partner Galp Energia SGPS SA subsidiary Galp Bioenergy BV, which also owns a 50% stake in Belem. The transaction is subject to customary precedent conditions, such as approval from Brazil's Administrative Council for Economic Defense.

Under the deal, Petrobras will be paid 24.7 million Brazilian reais, but will be retained by Galp until December 2020 for potential indemnity payments.

The divestment is in line with Petrobras' plan to sell off assets to reduce debt and focus on offshore projects.

As of Aug. 8, US$1 was equivalent to 3.93 Brazilian reais.