Connect DIRECTLY to Brazilian Sellers, Buyers, Agents & Developers
Select Language:

Petrobras makes $271 million investment in Brazil

Date added: 1st August, 2011 at 10:21
(view all articles from August, 2011)

Categories: Natural Resources

Publicly owned energy company Petrobras has made a $271 million (£164.86 million) investment in Brazil's natural gas sector.

The firm used the money to buy out Gas Brasiliano Distribuidora (GBD), which has an exclusive concession to the distribution of the fuel in the north-west state of Sao Paulo and was previously controlled by Italian company ENI International.

Petrobras will now have access to the largest natural gas market in the country, taking on around 755 km of infrastructure to serve the commercial, residential, transportation and industrial needs of 375 municipalities.

The acquisition also places the company near the gas reserves discovered in south-east Brazil as well as the Bolivian supply of the resource.

In 2010, GDB delivered around 650,000 cubic metres of gas per day and a further investment of 106.2 million reais (£41.74 million) by 2014 is expected to see the firm's distribution network expand.

It has been forecast that Brazil's energy market could be one of the largest in the world in the coming years due to the abundance of natural resources including oil in the country, while the nation is already a major player in the ethanol production sector.

 PropertyinBrasil.com for Brazilian Property Investments - Connecting you DIRECTLY to the Property Seller; Brazilian Developer | Owner or the Selling Agent!!

Transfer Money to Brazilian Real | Send Money to Brazil

Related Articles

BG Group profits from investment in Brazil

British energy company BG Group saw strong results in the second quarter of 2011, with its investment in Brazil proving profitable....

Date added: 27th July, 2011 at 10:33
(view all articles from July, 2011)

read more >

Investment in Brazil to see 64 wind turbines for Ceara

Property in Ceara may increase in value as investment in Brazil sees the commissioning of five wind farms....

Date added: 26th July, 2011 at 14:40
(view all articles from July, 2011)

read more >

Petrobras to make £154bn investment in Brazil

Oil company Petrobras has said it will make a 389 billion reais (£154 billion) investment in Brazil by 2015....

Date added: 25th July, 2011 at 10:28
(view all articles from July, 2011)

read more >
View News By Category: Apartments (7)Economy (488)Florianopolis (18)Fortaleza (43)Hotels (51)Islands (8)Joao Pessoa (6)Land (1)Natal (49)Natural Resources (208)Olympics 2016 (39)Property News (248)Rio (64)Salvador (60)Social and Affordable Housing in Brazil (26)Tourism (166)Villas (36)World Cup 2014 (35)
Archived News: August 2011 (13)July 2011 (26)June 2011 (28)May 2011 (26)April 2011 (24)March 2011 (26)February 2011 (26)January 2011 (26)November 2010 (22)October 2010 (26)September 2010 (26)August 2010 (26)July 2010 (26)June 2010 (29)May 2010 (26)April 2010 (26)March 2010 (27)February 2010 (26)January 2010 (27)December 2009 (25)November 2009 (27)October 2009 (26)September 2009 (26)August 2009 (26)July 2009 (26)June 2009 (25)May 2009 (26)April 2009 (26)March 2009 (26)February 2009 (26)January 2009 (26)December 2008 (26)November 2008 (27)October 2008 (24)September 2008 (29)August 2008 (26)July 2008 (39)June 2008 (31)May 2008 (28)April 2008 (29)March 2008 (3)