BAKU (Reuters) – British oil major BP

is looking to beef up security at its facilities in Azerbaijan after reports of alleged attacks on the Baku-Tbilisi-Ceyhan (BTC) pipeline, the main route for Azeri oil exports, it said on Wednesday.

Fighting between ethnic Armenian and Azeri forces over the Nagorno-Karabakh region erupted on Sept. 27 and has since escalated to its deadliest level since the 1990s.

The clashes have not affected energy supplies from the region but have put energy markets on edge.

Azerbaijan said late on Tuesday that it thwarted missile attacks in the vicinity of the oil pipelines including the BTC, which accounts for about 80% of Azeri oil pipeline exports, carrying more than 500,000 barrels of oil per day.

Armenia has denied it targeted the energy infrastructure.

“We are especially worried about yesterday’s reports of a missile attack, which was intercepted and destroyed by Azerbaijan’s air defence systems in the vicinity of BTC and SCP (South Caucasus Pipeline) export pipelines,” BP said in a statement.

“While the security of all assets which BP operates on behalf of the Azerbaijan government and our partners is provided by the Azerbaijani government, we continue to work closely with the relevant authorities in an effort to take necessary measures to provide the protection of our personnel, operations and assets.”

(Reporting by Gabrielle T├ętrault-Farber in Moscow, Nailia Bagirova in Baku and Nvard Hovhannisyan in Yerevan; Writing by Alexander Marrow and Vladimir Soldatkin; Editing by David Goodman)

Copyright 2020 Thomson Reuters.

Source Article

By Carolina Mandl

SAO PAULO, Oct 5 (Reuters)Private equity firms Warburg Pincus WP.UL and Gavea Investimentos are planning an initial public offering by Grupo GPS, a Brazilian facilities services provider in which they are key stakeholders, two sources familiar with the matter said.

Part of the proceeds of the offering, which are expected to reach 3 billion reais ($537.44 million), will go to the two private equity firms, with the rest going to the company for possible investment purposes, one of the sources added.

The company has hired investment banking units of Goldman Sachs GS.N, Itau Unibanco ITUB4.SA, BTG Pactual BPAC11.SA, Citigroup Inc C.N, Morgan Stanley MS.N and Bank of America Corp BAC.N to manage the IPO, according to the sources.

Founded in 1962, GPS has more than 86,000 employees and 2,400 clients, according to its website. It provides services such as cleaning, security, logistics and catering for companies.

If successfully listed, GPS will be the first facilities company listed on Brazil’s stock exchange, B3 SA.

Warburg Pincus and Gavea acquired minority stakes in GPS in 2015 and 2017, respectively.

The company, which has bought up a series of smaller rivals, consolidating an extremely fragmented sector, posted net income of 192 million reais last year.

GPS would be the third Brazilian company in which Warburg Pincus has a stake to go public this year, following pet store chain Petz PETZ3.SA and logistics company Sequoia Solucoes Logisticas SEQL3.SA, whose IPO is expected to price later on Monday.

($1 = 5.5820 reais)

(Reporting by Carolina Mandl in Sao Paulo Editing by Matthew Lewis)

(([email protected]; +55 11 5644 7703; +55 11 97116-3806;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.