Petrobras opens 1st of 39 service stations

Wednesday, October 18, 2006

Brazil's federal energy company Petrobras (NYSE: PBR) has opened the first of 39 service stations in Colombia.

Petrobras' first station - dubbed Santa Bárbara - is in the north of capital Bogotá, the company said in a statement.

The station will sell the fuels most consumed in the capital: regular and premium gasoline as well as diesel. The station also will have a Petrobras Lubrax lubrication center and tire center.

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The opening continues a process begun last year when Petrobras purchased Anglo-Dutch oil major Shell's (NYSE: RDS-B) assets in Colombia, Uruguay and Paraguay for US$140mn.

As a result, Petrobras in Colombia took over 39 service stations, a lubricants processing plant in Puente Aranda and a terminal at Santa Marta port.