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

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

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.

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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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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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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

Engineers want to carve through Africa with a giant canal to bring water from the world’s second-largest river to a dying lake on the edge of the Sahara Desert that has already lost 90% of its water.

A giant brown band visible from space, approximately 8,850 kilometers long, connected Africa to America in the Atlantic Ocean, and satellites revealed that it is neither land nor pollution, but the largest accumulation of seaweed in the world, which broke records in 2025.

Brazil filled the Northeast with wind turbines but now faces the side effect of 705 giant blades reaching the end of their lifespan by 2032 just in Rio Grande do Norte, while the world projects 43 million tons of waste by 2050.

India approved the country’s first submerged road-rail tunnel, 15.8 kilometers dug under the bed of the Brahmaputra River.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

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