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Petrobras Evaluates Mubadala Capital’s Proposal for Refining and Biorefining Partnership in Bahia – Highlight on Strategic Partnership.

Written by Paulo Nogueira

Published on 22/12/2023 at 13:06

Oil and Gas

Amostra Diesel Foto: Divulgação Petrobras – Todos os direitos: Petrobrás

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The Company Announces It Will Consider Purchasing Shares in Ventures Aiming to Enhance the Business Environment Through Future Collaboration.

Petrobras received a communication from Mubadala Capital proposing the formalization of recent discussions regarding the formation of a potential strategic partnership for the development of downstream operations in Brazil. This initiative continues the memorandum of understanding released on September 4, 2023. The scope of the partnership covers activities related to traditional refining and the development of a biorefinery, both located in the State of Bahia.

The objective of the future partnership is to strengthen the business environment in the sector and increase the supply of renewable matrix fuels in Brazil. The business model to be analyzed will take into account future investments and the development of new technologies in conjunction with Mubadala Capital, in a collaborative scenario for growth and innovation in the sector.

Potential Partnership Between Mubadala Capital and Petrobras

Mubadala Capital, in partnership with Acelen, which controls the Mataripe Refinery (‘RefMat’) and Acelen Energia Renovável S.A. (‘Biorefinery’), indicates in its correspondence the main terms and conditions of the eventual partnership. Petrobras will evaluate the acquisition of a stake in these assets.

ARTICLE CONTINUES BELOW

About RefMat

The Mataripe Refinery, located in São Francisco do Conde in the state of Bahia, has a processing capacity of 333 thousand barrels per day, and its assets include four storage terminals and a set of pipelines that connect the refinery and the terminals totaling 669 km in length.

About the Biorefinery

The integrated biorefining project includes plants for producing renewable diesel and sustainable aviation fuel from vegetable oil sourced from native crops, with operations in the states of Bahia and Minas Gerais.

Source: Petrobras Agency

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Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

Petrobras Evaluates Mubadala Capital’s Proposal for Refining and Biorefining Partnership in Bahia – Highlight on Strategic Partnership.

The Company Announces It Will Consider Purchasing Shares in Ventures Aiming to Enhance the Business Environment Through Future Collaboration.

Potential Partnership Between Mubadala Capital and Petrobras

About RefMat

About the Biorefinery

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