Empresa considera parceria em refino com a Petrobras

Company Considers Refining Partnership With Petrobras

Written by Paulo Nogueira

Published on 30/10/2018 at 22:02

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The company Cosan is evaluating a cooperation with Petrobras in refining. This company is a private group from Brazil, with businesses in various areas in Brazil. Active in the production of ethanol and distribution of fuels, it announced yesterday (30) through its Chairman, Mr. Rubens Ometto, its interest in this partnership. The company is aiming for new partnerships; however, this situation will depend on how the oil company intends to sell stakes in its refineries in the country.

The company interested in the partnership has a strategic alliance agreement with Shell for a common commercial objective called Joint Venture, where each company has a 50% stake in Raizen, the largest sugar producer in the world and one of the main fuel distributors in Brazil. The president of Cosan did not clarify whether the joining of forces with Petrobras is an initiative of the company itself or the agreement (Joint Venture) with Shell.

Advisors to Jair Bolsonaro reported that they intend to sell several state-owned companies as a way to increase revenue and cut the government’s debt. Even before the election, Petrobras had already announced its intention to sell its stake in refineries.

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The company is focused on energy and logistics and could participate in the sale of Petrobras’ refineries depending on the model details of the operation, Ometto completed. The company already has refining assets in Argentina, and having a stake here could be a way to stay on track.

Regarding ethanol, the new sugarcane harvest in Brazil begins only in April of next year. For the mills to continue focusing on ethanol production, the price of sugar must rise significantly. Raizen is disregarding the expansion of sugarcane processing capacity in the country and the joint venture needs to focus on improving capacity utilization.

Raizen has the capacity to process 70 to 72 million tons of cane per cycle and is currently processing between 60 and 62 million tons, which is 10 million less – the executive added.

This partnership will be good for Petrobras and for the government; we hope it will also be positive for the market.

https://en.clickpetroleoegas.com.br/petrorio-compra-frade-japao-petroleo/

Company Considers Refining Partnership With Petrobras

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