Companies & Finance

Petrobras pipeline sale snags on legal issues

The crown jewel in the Petrobras divestment programme – the giant TAG pipeline in Brazil’s northeast – is proving a tough sell The crown jewel in the Petrobras divestment programme – the giant TAG pipeline in Brazil’s northeast – is proving a tough sell.
By Chris Noon 12 June 2018 0 31257
A worker on a Brazilian gas pipeline. (Petrobras)

Brazilian state-run giant Petrobras had hoped to break the back of its $21 billion divestment programme by selling the Transportadora Associada de Gás (TAG), a network of pipelines in the country’s northern and northeastern regions, for around $8 billion. However, the sale has run into a variety of problems

A court in Recife, the capital of Brazil’s northeastern state of Pernambuco, suspended the sale of TAG last week, citing the lack of a public tender for the...