State-controlled oil firm Petroleo Brasileiro SA is going to discuss alternatives for its liquefied petroleum gas distribution unit in a board meeting this week, one person with direct knowledge of the matter said, according to MidstreamBusiness magazine.
Petrobras, as the Brazilian company is known, had agreed to sell Liquigas Distribuidora SA to Ultrapar Participações for $859 millio), but the deal was blocked by antitrust regulator CADE in February.
Petrobras has officially said it wants to completely exit the LPG distribution business, but will consider options different than a formal sale process to strategic and financial investors.
An alternative to an outright sale would be an initial public offering of the unit, in which Petrobras could sell at least 60 percent of the company, transferring control of Liquigas to the private sector.
Petrobras would be able then to gradually sell stakes in Liquigas until a complete exit, according to the source.
UPDATES:
- Apr, 24 2026 Emerson Releases DeltaV Live Enterprise View
- SLB Advances Digital Strategy with Acquisition of S&P Global Energy’s Upstream Software Portfolio
- Apr, 23 2026 Sierra Leone signs $225 million offshore oil agreement with Nigeria’s Marginal Energy
- Apr, 22 2026 Valmet welcomes Bickel & Wolf Handels GmbH as new Flowrox channel partner in Austria
- IMI signs global framework extention with Solvay for the provision of IIoT sensors