Petrobras confirms interest in Eni's Galp Energia

By Phaedra Friend Troy

Brazilian super-major Petrobras (NYSE:PBR) confirmed various media reports today that the mega-producer is mulling an opportunity to acquire a stake in Portuguese oil producer Galp Energia, which is held by the Italian major Eni Spa (NYSE:E).

“Petrobras confirms that it is considering a possible business deal with Eni, but up to now no conclusion was drawn and there are no binding obligations between the parts,” the company statement read.

The only Portugese oil and natural gas operator and refiner, Galp Energia operations include upstream, downstream, midstream and marketing projects, as well as power generation. Active in 13 countries on four continents, including Spain, Portugal, Mozambique, Swaziland, Cape Verde, Gambia, Guinea-Bissau, Equatorial Guinea, Angola, Brazil, Venezuela, Uruguay and East Timor, Galp Energia employs nearly 7,500 people.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs