Petrobras buys 500,000 barrels of oil from the Union

Pre-salt oil S. A has made it on behalf of the union the sale of 500,000 barrels of petroleum to Petrobras, in production extracted from the development area of Mero, in the reserve of Libra, said on Monday the company created to represent the Government in the management of Agreements in the pre-salt region.

The negotiation, which involves two loads with forecast of embarkation for March and April of 2018, is the first held directly by PPSA, a company linked to the Ministry of Mines and Energy.

"This Union oil sales operation is the first concrete result of the sharing model in Brazil. The resources collected will be earmarked for the Social fund and the areas of basic education and health. The society is therefore a direct beneficiary of this sale, "said in note the president of PPSA, Ibsen Flores.

The company said that the cargo was offered in a competitive process for oil companies with the necessary logistic capacity, and that Petrobras offered the best price offer. A new offer to the market for the sale of more than 500,000 barrels of oil of mere shall be held until June, according to Flowers.

"In the second half, the expectation is that the oil commercialization of the fields of thrush and Lula will also be initiated," added the PPSA.

The company may market the share of oil and natural gas attributed to the Union in the sharing contracts directly or through a trader, according to the legislation. The expectation of the Union is to raise 1 billion reais in this year with the operations managed by PPSA. Source: Exam



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