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Petrobras Is Looking for Ways to Enable the Completion of a Nitrogen Fertilizer Unit in Mato Grosso do Sul, Which Has Been Halted for Several Years, Aiming to Boost Development and Agricultural Production in the Region.
The Executive Director of Petrobras, Jean Paul Prates, Made Two Visits This Year to the Middle East to Attend Conferences and Discuss Projects of Interest to Brazil with Local Representatives. These Talks Aim to Establish Beneficial Collaborations for Both Parties in the Future.
Prates Argued That Establishing a Company in a Foreign Country Is a Business Tactic. If Negotiations Progress and Result in Effective Partnerships, the Announcement Will Be Made by President Lula.
This Potential Collaboration with Individuals from the Middle East Has Been Nicknamed Petrobras Arabia, According to Prates. The Investigations Commissioned Are Scheduled to Be Completed in Early 2024.
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Investment in Nitrogen Fertilizers
Petrobras Is Seeking Ways to Complete the Construction of a Nitrogen Fertilizer Unit in Mato Grosso do Sul, Whose Works Have Been Halted for Several Years. The Company Also Has Nitrogen Fertilizer Plants Leased to Unigel, and One of Them Is Inactive in Bahia.
Prates Also Mentioned the Possibility of Petrobras Making Investments in the Middle East.
According to Prates, “We Are Considering the Possibility of Mutual Investment Due to Fertilizers… We Have Gas, but Ours Is More Expensive Than Theirs. How Can We Combine Forces Through Mutual Interests? Make a Cross Investment”, Prates Said by Phone Directly from Dubai, Where He Attended the COP 28 Climate Conference.
The President of Petrobras, Jean Paul Prates, Informed That the Company Is Analyzing Alternatives to Attract Investments from Nations in the Middle East, Such as Saudi Arabia and Qatar. These Investments Could Enable the Acquisition of Gas at More Competitive Prices, Which Would Benefit Brazil in Expanding the Production of Nitrogen Fertilizers. Prates Commissioned Studies on Possible Partnerships with Petrobras and Believes That Foreign Investors Could Participate as Minority Shareholders in the Construction of New Plants or in the Modernization of Existing Units in Brazil. In Turn, the Brazilian State-Owned Company Would Have the Opportunity to Establish a Unit in the Middle East, Configuring a “Cross Investment” Between the Parties.
Source: InfoMoney
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