BG sells stake in Brazilian gas distributor

BG Group has completed the sale of its 60.1% interest in Brazilian gas distributor Comgas for $1.7 billion to Cosan SA Industria e Comercio of Brazil.

BG and Shell bought the Sao Paolo gas distribution company, Brazil’s largest, in 1999 for nearly $992.7 billion. Shell and Cosan have a joint venture called Raizen that produces ethanol from sugar cane (OGJ Online, June 2, 2011).

BG called the sale of its Comgas interest part of a strategy to exit its gas transmission and distribution and power businesses.

In October it agreed to sell its controlling interest in India’s Gujarat Gas Co. Ltd. for $470 million and the sale in May of its interests in two Philippines power plants for $360 million.

Related Articles

EIA: US sees lowest pre-Labor Day gasoline prices in 4 years

08/29/2014 US retail prices for regular gasoline averaged $3.45/gal on Aug. 25, which was lowest price on a Monday preceding the Labor Day holiday in the US s...

India’s ONGC to invest in Daman development in Arabian Sea

08/29/2014 India’s Oil & Natural Gas Corp. will invest $864.5 million to enhance natural gas and condensate production from its Tapti Daman block in the A...

Nexen boosts CNOOC’s first-half production

08/29/2014 Nexen Energy ULC contributed 36.3 million boe during this year’s first half to CNOOC Ltd.’s total net oil and gas production of 211.6 million boe, ...

California lawmakers pass in-state gas system methane emissions bill

08/28/2014 The California Senate passed a bill aimed at curbing methane emissions from intrastate natural gas pipelines and local distribution systems. SB 137...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected