Approval of new gas landmark may unlock $ 12 bn estimated in investments

The approval of the new legal framework for gas will modernize the regulation of the sector and may unlock R$ 60 billion ($ 12bn) in estimated investments in this area. The assessment was made by Moody’s when the House of Representatives signals to resume the assessment of the matter in the next few days, after approving, by 323 votes, the urgency for the processing of what is called the Gas Law.

Source: Agencia Estado

Eletrobras approves Omega’s bid of $ 300 mm per wind farm slice in RS

Eletrobras’ Board of Directors approved the binding offers made by Omega Generation of approximately R$1.5 billion ($ 300 mm) for acquisition in wind farms in Rio Grande do Sul. According to a statement by Omega, the proposal for 78% of the state-owned company’s share of the Santa Vitória do Palmar Complex, with 402 MW, was about R$ 1 billion ($200 mm), and cash payment of R$ 434.5 million ($ 86mm).

Source: Reuters

Petrobras reduces losses to $ 540 mm on in Q2

Petrobras announced a reduction in its quarterly losses in the second quarter and pointed to “signs of recovery” from the global economic crisis caused by the coronavirus pandemic. The company based in Rio de Janeiro registered a net loss of R$ 2.7 billion ($540 mm) in the April-June period, lower than the R$ 48.5 billion ($9.6bn) of the first quarter of 2020.

Source: UOL Economia