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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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The proposal will still be subject to recent discussions and internal evaluation by Petrobras. The company also clarifies that any investment decisions must, within the governance established at Petrobras, undergo formalization processes and required approvals, demonstrating its technical and economic viability in line with its Strategic Plan 2024-2028+.
Relevant facts will be promptly disclosed to the market.
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
