Reuters logo
Brazil's OGX Maranhão changes name to Parnaíba Gás Natural
November 27, 2013 / 8:29 PM / 4 years ago

Brazil's OGX Maranhão changes name to Parnaíba Gás Natural

RIO DE JANEIRO (Reuters) - OGX Maranhão, the Brazilian on-shore natural gas producer, has changed its name to Parnaíba Gás Natural, said Eneva SA (ENEV3.SA), one of three companies that owns a stake in the company, in an e-mailed statement on Wednesday.

OGX Maranhão was formerly controlled by OGX Petróleo e Gás Participações SA (OGXP3.SA), the Brazilian oil company founded by Brazilian tycoon Eike Batista. OGX filed for bankruptcy protection in a Rio de Janeiro court on October 31.

Unlike OGX’s offshore fields, whose lower-than-expected output sparked the meltdown of Batista’s EBX industrial group, output from the former OGX Maranhão’s onshore fields grew to make the company the second-largest Brazilian-based oil and gas producer.

In September it produced 28,415 barrels of oil and gas equivalent a day, according to Brazil’s oil regulator, the ANP.

Eneva, whose largest shareholder is German utility E.ON SE (EONGn.DE), buys all of Parnaíba Gás Natural’s gas output and uses it to generate electricity.

When the sale of Parnaíba Gás Natural, announced October 31, is complete, Eneva will own 18 percent, E.ON 9 percent and Brazilian buyout firm Cambuhy Investimentos 73 percent, Eneva’s press office said.

Reporting by Jeb Blount; editing by Jim Marshall

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below