Subject: Brazil oil officials to East Timor

IN BRIEF: Petrobras confirms Eni LPG talks

February 19, 2004 1:42pm

Brazil's federal energy company Petrobras is in talks with Italy's oil and gas company Eni over the "new opportunities" in the liquefied petroleum gas (LPG) sector, newspaper O Estado de Sao Paulo reported a Petrobras statement as saying.

Local press has been reporting that Petrobras in interested in buying the Italian company's Brazilian subsidiary Agip Liquigas, the country's largest LPG distributor.

Petrobras "has been holding talks with Eni in the search for new opportunities in the sector they are both present in", the statement reportedly said.

Petrobras is the only supplier of LPG in Brazil.

Meanwhile, Petrobras will send officials to former Portuguese colony East Timor to study the country's oil reserves, local press reported. Brazil's national oil agency could also help East Timor delineate the country's oil basins.

Copyright © 2004Business News Americas

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