BG Group Ships 1 Million Barrels Of Crude From Brazil To Chile's Enap

Date : 08/03/2011 @ 1:04PM
Source : Dow Jones News
Stock : Encore Energy Partners Lp (ENP)
Quote : 20.05  0.0 (0.00%) @ 2:05AM

BG Group Ships 1 Million Barrels Of Crude From Brazil To Chile's Enap

Encore Energy Partners Lp (NYSE:ENP)
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London-based energy group BG Group PLC (BRGYY, BG.LN)) shipped 1 million barrels of crude from its Brazilian operations to Chilean state-owned natural gas and oil company Empresa Nacional del Petroleo for refining, the former said in a statement.

Enap, as the state-owned company is called, runs the Aconcagua and BioBio refineries, Chile's largest, and supplies about 80% of the nation's fuel needs and exports refined products to Peru, Ecuador and Central America.

Enap and BG Group are partners in the liquefied natural gas regasification plant at the Chilean port of Quintero, located some two hours northwest of Santiago.

BG Group holds a 40% stake, Enap a 20% and power generator Empresa Nacional de Electricidad SA (EOC, ENDESA.SN) and Chilean gas distribution company Metrogas each an additional 20% stake in GNL Quintero SA.

Meanwhile, BG has invested $5 billion in Brazil since 1994, including in development of some of the country's important presalt oil finds, in conjunction with Brazilian oil giant Petroleo Brasileiro SA (PBR, PETR4.BR), or Petrobras.

-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929;

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