Companies in the Mexican state are signing up franchisees to sell imported bio-ethanol with a view to setting up a local production facility.
UN initiatives that are shifting hundreds of billions of dollars in investment into environmentally friendly assets are to be put to the test in South America, a region traditionally dependent on extractive industries.
The move is part of the UK-based resources giant's plans to raise up to US$4bn through the sale of non-strategic assets to cut its debt.
Natural gas distributors in Brazil tend to be financially robust and are well-placed to expand their market footprints, Fitch senior analyst Gustavo Mueller tells BNamericas.
Energy group highlights conflict of interest between minority-held companies and core business units.
The negotiations, which began in late July, center on Companhia Petroquímica de Pernambuco (Petroquímica Suape) and Companhia Integrada Têxtil de Pernambuco (Citepe).