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Brazil Consolidates Uruguay Presence with First of Series of Gas Stations

Petrobras, the Brazilian state controlled oil giant, is consolidating its entry in the fuel and lubricants distribution sector of neighboring Uruguay, with the inauguration, yesterday, September 26, in the country’s capital city Montevideo, of the first of 89 gas stations bought from Shell this year.

To change the image of the stations and implement the BR brand, Petrobras will be investing, up to the beginning of 2007, when the change will be entirely implemented, US$ 5 million.

The inauguration ceremony counted on the participation of the president of the Brazilian state-owned company, José Sergio Gabrielli de Azevedo, and the director of the International department, Nestor Cerveró.

Present in Uruguay since 1996, when sales of the lubricants Lubrax started, Petrobras has been gradually increasing its participation in the country’s oil sector.

In 2004, the company started working also in the distribution of natural gas around the country with the purchase of 55% of the shares of the company Conecta. In 2006, Petrobras bought 66% of the shares of Gaseba Uruguai – natural gas concessionary in Montevideo.

The consolidation of the Brazilian state-owned company advanced in the same year, with the acquisition of 100% of Shell’s assets and the control of a chain of 89 stations. With this, it started accounting for an annual sales volume of 227,000 cubic meters (227 million liters) of oil products.

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