Petrobras buys Shell units in Colombia, Paraguay and Uruguay

Edna Dantas

Reporter Agência Brasil

Rio - Petrobras announced yesterday that it had paid US$140 million for a series of Shell commercial units in Colombia, Paraguay and Uruguay. The purchase included all of Shell's operations in Paraguay and Uruguay, plus its gas stations in Colombia. Altogether, Petrobras acquired 261 gas stations, 52 of them with convenience stores, a lubrification plant, a basic products terminal, LPG commercialization points and aviation fuel product commercialization points at airports in the cities of Assuncion and Cidade del Este, in Paraguay, and Carrasco, in Uruguay.

In a note Petrobras said the purchase was part of its strategy to expand in Latin America and assume a leadership role in the region. The note also pointed out that the market has excellent growth potential. Petrobras already has a commercial presence in Argentina and Bolivia.

Translation: Allen Bennett