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The Sale of Petrobras’ RLAM Refinery Also Foresees Divestment in Four Terminals in Bahia: Candeias, Itabuna, Jequié, and Madre de Deus
Petrobras informed yesterday (07/10) about the divestment of the Landulpho Alves Refinery (RLAM) and that Mubadala Investment Company (Mubadala) submitted the best proposal in the binding phase and was invited to begin negotiations. Court Makes Final Ruling and Petrobras Will Have to Change Name of Lula’s Field.
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The investment fund of Abu Dhabi, Mubadala, outpaced the Indian group Essar in the race and won the exclusive right to discuss terms of the purchase agreement with Petrobras to buy the second largest refinery in Brazil.
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Petrobras clarified that there was approval from the company’s deliberative bodies to begin the negotiation phase of the applicable contracts.
“After the conclusion of the negotiations with the first place participant, there is still the possibility of a new round of binding proposals with participants classified for this phase, depending on the terms of the negotiated contracts.” Petrobras stated in the announcement.
According to the state company, the start of negotiations with the participant who submitted the best proposal is an expected development in the divestment projects, for which there is no forecast for market disclosure.
Finally, Petrobras reaffirms its commitment to broad transparency in its divestment projects and portfolio management and informs that subsequent stages will be disclosed to the market in accordance with the company’s Divestment Systematics.
Petrobras will sell along with RLAM 669 km of pipelines that are part of the refinery’s network, including short pipelines (Becan 6”, Becan 8”, and 21 Oil Pipelines connecting RLAM to the Madre de Deus Terminal) and long pipelines (ORSUB connecting RLAM to the Jequié and Itabuna Terminals; ORPENE L1/14”, ORPEN 12” and ORPENE 8”, connecting RLAM to the Camaçari Petrochemical Complex).
The sale of the Bahia refinery also foresees divestment in four terminals in the state: Candeias, Itabuna, Jequié, and Madre de Deus.
RLAM began operations in 1950 and has the capacity to process 330,000 barrels of oil per day.
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