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Petrobras hands gas suppliers back to Uruguay

The return deal includes two concessions made in the 90s

Published in 17/07/2019 - 15:18

By Vladimir Platonow Rio de Janeiro

Petrobras and Uruguay’s government unveiled agreements allowing the return of two gas suppliers that had been ceded to Brazil’s state-run oil giant: Conecta S.A. and Distribuidora de Gas de Montevideo. The announcement was made by Petrobras on Tuesday (16).

Petrobras CEO Roberto Castello Branco and Uruguayan President Tabaré Vázquez met Tuesday to seek a definitive answer to the disputes stemming from the concessions of the two firms, the note says.

The pact was based on three items. The first deals with the administrative measures to terminate the concessions in effect until September 30, 2019. The parties also agreed to end ongoing litigation without further motions of any kind. Finally, Uruguay will spearhead operations in both concessions through the appropriate legal means, thus continuing services.

 

Translation: Fabrício Ferreira Edition: Aline Leal / Nira Foster

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