Brazil Journal reported that Vibra had begun talks with Cosan to purchase its lubricants division.
Brazil Journal, a news outlet, reported that Brazilian fuel retailer Vibra had begun talks with Cosan about buying Cosan’s lubricants division, Moove. The report was based on sources who were familiar with the situation. Brazil Journal reported that the talks were initiated by CVC Capital Partners a European private equity company, which expressed interest in selling their stake. Vibra also showed interest in purchasing 100% of the firm. The article added that the talks had stalled because…
Inpasa: Vibra's founder's family has invested in Vibra to achieve financial goals
Inpasa, an ethanol producer, said that on Friday a family fund connected to its founder had invested in Brazilian fuel retailer Vibra. The investment was made with purely financial goals and has no connection to Inpasa's operations. The news outlet Brazil Journal reported late on Thursday that Inpasa (which was founded in Paraguay, and is Brazil's largest corn ethanol producer) had been buying shares in Vibra. They now have a 3% share and want to increase it. Inpasa didn't disclose in a press release the amount of Vibra shares owned by the fund.
French and Spanish operators form joint venture to develop hydrogen pipe
It announced on Thursday that French gas grid operator Natran (a unit of utility Engie) has formed a joint-venture to develop a trans-border hydrogen pipe with French storage operator Terega, and Spain's Enagas. The Barcelona-to-Marseille underwater pipeline, or Barmar, is part of a larger 2.5 billion euro ($2.93 billion) project called H2Med that will link Portugal, Spain, France and Germany by 2030, as the European Union hopes to displace some natural gas use with hydrogen, which does not emit CO2 when combusted.
US lifts restrictions Enterprise Product's ethane exports to China
Enterprise Products Partners said that the U.S. cleared the way for them to resume ethane exports to China. The company also revoked a license restriction put in place only a few weeks ago, when the U.S. - China trade war shifted from tariffs to supply chain issues. After accusing Beijing that it was slowing down shipments of rare Earths, vital for automakers and other industries, the U.S. placed new restrictions on ethane and a broad range of other exports to China.
US lifts restrictions Enterprise Product's ethane exports to China
Enterprise Products Partners said that the U.S. cleared the way for them to resume ethane exports to China. The company also revoked a license restriction put in place only a few weeks ago, when the U.S. - China trade war shifted from tariffs to supply chain issues. After accusing Beijing that it was slowing down shipments of rare Earths, vital for automakers and other industries, the U.S. placed new restrictions on ethane and a broad range of other exports to China.
India to increase energy security by adding new strategic reserves of oil
The head of the company responsible for strategic reserves, who spoke on Wednesday, said that India is looking at building three new strategic oil reserve to increase its emergency stockpile as well as strengthen energy security. India is the third largest oil consumer and importer in the world. It imports over 80% of the oil it consumes and constantly diversifies its crude sources so as to minimize the impact of geopolitical crisis on its oil procurement.
US energy company EQT settles lawsuit for $167.5 Million
According to a filing made by plaintiffs in federal court on Thursday, U.S. Energy Company EQT has agreed to pay $167.5 Million to settle a lawsuit brought by investors who alleged that EQT had overstated its benefits from its $6.7 Billion merger with Rice Energy. Officials from EQT did not respond to a request for comment immediately. The case includes the Eastern Atlantic States Carpenters Annuity Fund (the plaintiff), the Eastern Atlantic States Carpenters Pension Fund (the defendant) and the Cambridge Retirement System.
Eni CEO: Oil markets do not expect closure of the Hormuz Strait
Eni's CEO, Eni of Italy, said that oil markets were signaling an unlikely escalation of tensions between Israel and Iran or the closing of the Strait of Hormuz. The Strait of Oman, located between Oman and Iran, connects the Gulf of Oman in the north with the Gulf of Oman in the south. It also links the Arabian Sea to the east. Claudio Descalzi, Eni, said at an energy conference that the markets had not yet pushed crude oil prices above $80 or $90 per barrel…
