MONTEVIDEO, Uruguay (AFX) - Brazil's state-run oil giant Petrobras said Friday it has completed the purchase of Royal Dutch Shell's fuel-and-distribution operations in Uruguay, acquiring 89 service stations across this small South American country.
Petroleo Brasileiro said in a statement here that the contract allows it a year to install the Petrobras logo at the gas stations acquired from the English-Dutch energy company. It said it would keep existing employees.
Petrobras signed agreements last December to buy Shell's fuel business in Colombia and acquire the fuel-and-distribution operations in Paraguay and Uruguay. Authorities at the time said the agreements were worth US$140 million (euro110 million).
Petrobras also took control this week of natural gas company Gaseba Uruguay, a subsidiary of Gaz de France that was established 11 years ago and now pipes gas to more than 40,000 clients in Montevideo.
Uruguayan authorities said Petrobas would invest US$24 million (euro19 million) to expand that distribution network over three to four years, but the Brazilian company had no comment.
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