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.



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