In Addition to Achieving Record Profit in 2021, Petrobras Secured R$ 30 Billion in Asset Sales, Including Some Refineries

Written by Roberta Souza

Published on 27/02/2022 at 11:16

Foto: Reprodução Google Imagens (via Money Times)

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The Transactions of Petrobras in Refinery Asset Sales Were Responsible for Reducing 17 Billion Dollars of the State-Owned Company’s Debts

In 2021, Petrobras achieved a record profit of R$ 106 billion, which became the highlight of the company’s annual financial study released last week. However, the company has another action gaining visibility: the sale of R$ 30 billion in assets.

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As the largest Brazilian company, the oil refinery reduced its leverage, that is, the measure by which the time required to settle the debts of an institution is calculated, to 1.1x, due to the sale of many of its assets.

According to Victor Sena’s article for the Exame website, 22 assets were sold last year, including BR Distribuidora, Landulpho Alves Refinery, and several other oil fields that did not present advantages to the state-owned company. Currently, BR Distribuidora is called Vibra, and the Landulpho Alves Refinery (RELAM) was acquired by an Arab fund.

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Check the List of Enterprises That Petrobras Effectively Sold in 2021:

Distribution, Refining, Energy, and Natural Gas Assets

PUDSA Distributor, in Uruguay
BR Distribuidora
Breitener Thermal Plants
Bsbios (Biodiesel Company)
CEM and TEP Thermal and Hydroelectric Plants
GasLocal (Natural Gas Company)
Mangue Seco Wind Farms 1, 2, 3, and 4
NTS (Natural Gas Transporter)
Landulpho Alves Refinery
3 Thermal Power Plants in Polo Camaçari

Exploration and Production Assets

Frade Field
P.Cricaré Land Fields
P. Miranga Land Fields
P.Remanso-BA Land Fields
Lapa
Dó-Ré-Mi and Rabo Branco
P. Rio Ventura

In addition to these, Petrobras managed to sell, at the beginning of 2022, land fields in the Alagoas Polo. Other assets have also had negotiations finalized but have not yet begun transactions, such as the land fields in Potiguar and Ventura in the Northeast, and Gaspetro, a natural gas company.

In Addition to Achieving Record Profit in 2021, Petrobras Secured R$ 30 Billion in Asset Sales, Including Some Refineries

The Transactions of Petrobras in Refinery Asset Sales Were Responsible for Reducing 17 Billion Dollars of the State-Owned Company’s Debts

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Check the List of Enterprises That Petrobras Effectively Sold in 2021:

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In Addition to Achieving Record Profit in 2021, Petrobras Secured R$ 30 Billion in Asset Sales, Including Some Refineries

The Transactions of Petrobras in Refinery Asset Sales Were Responsible for Reducing 17 Billion Dollars of the State-Owned Company’s Debts

Read Also:

Check the List of Enterprises That Petrobras Effectively Sold in 2021:

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