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Acelen Is Interested in Keeping All Employees of the Refinery, Who Have the Option to Be Reallocated to Other Petrobras Units
The Mubadala sovereign fund, from the Abu Dhabi prince, founded Acelen with the aim of managing and operating the Landulpho Alves-Mataripe oil refinery (RLAM). The Group, which will take over the unit in December of this year, is already announcing its plans for production expansion while aiming to integrate with other industries and boost the economy of the state of Bahia.
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Headquartered in São Francisco do Conde, the refinery was acquired from Petrobras in March 2021 for US$ 1.65 billion, and the completion of the acquisition operation is in the final phase, according to the controller’s statement.
Acelen Announces Expansion and Modernization Projects, Besides Directing Efforts in Fuel Supply in Bahia with Oil Derivatives
Acelen executives told Bahia Econômica newspaper that they intend to maximize the use of refinery assets by investing in expansion and modernization projects, as well as directing efforts in regional fuel supply, unlike what currently happens with the refinery, which has been operating well below its capacity.
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According to the newspaper, the Group wants to stimulate the greatest possible integration with the existing industrial park in Bahia, especially the Petrochemical Pole, even evaluating the possibility of extending the production chain to promote the verticalization of production.
As an example, they mentioned the possibilities of commercializing by-products, such as Carbon Black in the rubber area, and other segments capable of establishing a strategy of integration with local agents for extending the production chain.
Petrobras will maintain what is called assisted operation in the first year and will gradually transfer total control to Acelen.
Acelen Wants to Keep All Employees of the RLAM Refinery in Bahia
Regarding the workforce, the company states that in the sales process, stability was guaranteed for all employees, but the company’s interest is to keep everyone, especially those with experience, while seeking to increase work productivity and enhance the asset’s competitiveness. According to the sales contract, those workers who do not wish to stay with the company may be relocated to other Petrobras units.
The company informs that it will work to preserve the environment, seeking to improve energy efficiency, use renewable energy, and adopt a policy to increase the use of carbon credits. They state that Acelen’s strategy is to gradually transition investments from high carbon to low carbon, in line with international strategy.
The executives also affirmed their intention to promote local wealth generation in cooperation with municipal governments and to increase tax revenue, such as ICMS, with increased production, and to cooperate with the government of the state of Bahia to encourage local production and the development of new businesses.
The RLAM was the first national refinery built in the country, starting operations in September 1950. It has undergone various operational updates. The refinery produces LPG, gasoline, diesel, and petrochemical naphtha, among other products. In addition to the facilities in Mataripe, RLAM has supply terminals and pipelines in the municipalities of Madre de Deus, Candeias, Jequié, and Itabuna.
Mubadala Capital, which controls Acelen, is the asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor based in Abu Dhabi. In addition to managing its investment portfolio, the subsidiary manages US$ 9 billion in third-party capital from institutional investors, including a fund in Brazil, three private equity funds, two early-stage venture capital funds, and one public fund.
Mubadala Investment Company is a sovereign fund that operates as the state holding company of the United Arab Emirates. The organization is closely linked to Mohamed bin Zayed, the Crown Prince of Abu Dhabi.
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