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


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs