Galp owns 100% of Belem Bioenergia Brasil

Portuguese company Galp has completed its purchase of Petrobras’s 50% stake in Belem Bioenergia Brasil from Petrobras Biocombustíveis, now holding 100%, Petrobras said.

Belem Bioenergia Brasil was created in 2011 by both companies with the intention of producing vegetable oil in Brazil.

The Petrobras statement reads, “After all the above conditions have been fulfilled, the operation has been completed, and Petrobras Biocombustíveis SA has the right to receive around 5.5 million euros (24.7 million reais), which will be withheld by Galp until December 2020 to compensate for potential compensation payments. “

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