Petrobras, Engie extend period to negotiate contract of pipeline network – sources

Brazilian state-controlled oil company Petroleo Brasileiro SA has extended the deadline for discussion with France’s Engie SA about the sale contract for a major pipeline network, two sources with knowledge of the matter said.

Engie had the highest bid among three consortia interested in acquiring Transportadora Associada de Gás SA, known as TAG. The French company and Petrobras, as the Brazilian company is known, were supposed to wrap up talks over the sale contract by Thursday, which was a holiday in Brazil.

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