Petrobras Announces Extension of Deadlines for Investors to Negotiate the Sale of Three Fuel Refineries in Brazil

Written by Ruth Rodrigues

Published on 17/07/2022 at 17:47

Foto: Alexandre Cassiano/Agência O Globo

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Seeking To Ensure More Confidentiality And Security In Negotiations, Petrobras Has Just Announced An Extension Of The Deadlines For Investors To Express Interest In The Sale Of Three Fuel Refineries Located In The National Territory.

On last Friday (07/15), the Brazilian state-owned oil company Petrobras announced a postponement of the final deadline for investors to express interest in the sale of the fuel refineries Abreu e Lima (Ipojuca-PE), Presidente Getúlio Vargas (Araucária-PR), and Alberto Pasqualini (Canoas-RS). The company seeks to ensure more security and confidentiality in the transaction negotiations and will now continue to follow the criteria for the disinvestment plan in the structures to proceed as expected.

Deadline For Investors To Negotiate Their Interest In Purchasing The Fuel Refineries Abreu E Lima, Presidente Getúlio Vargas, And Alberto Pasqualini Is Postponed

Continuing its disinvestment project in oil and natural gas assets in Brazil, Petrobras announced last Friday the extension of the deadlines for demonstrating interest in the sale process of the fuel refineries Abreu e Lima, Presidente Getúlio Vargas, and Alberto Pasqualini. Thus, investors seeking to acquire the structures will have additional time to express their interest to the state-owned company.

The previous deadline for this to occur was set for this Friday, and the state-owned company decided to wait until the last moment to announce the extension. Now, investors interested in the fuel refineries Abreu e Lima, Presidente Getúlio Vargas, and Alberto Pasqualini will have until July 29 to express their interest to Petrobras and start negotiations.

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Sale Of Petrobras’s Fuel Refineries Is Part Of The State-Owned Company’s Disinvestment Plan To Reduce Market Concentration In The Oil And Gas Sector

The entire process of resuming the sale of the fuel refineries Abreu e Lima, Presidente Getúlio Vargas, and Alberto Pasqualini began on June 28, when Petrobras’s Board of Directors approved the appointment of Caio Paes de Andrade to lead the company.

The sale of Brazilian assets is part of an agreement between the state-owned company and the Administrative Council for Economic Defense (Cade) aimed at reducing the company’s market concentration in the oil and gas sector in Brazil. Thus, the disinvestment agreement provides that the company will sell 8 of its 13 fuel refineries to the private market.

Despite this, Petrobras has only sold one refinery so far, the Landulpho Alves, in Bahia, which currently belongs to the Mubadala Sovereign Fund from the United Arab Emirates. Therefore, the sale of the fuel refineries Abreu e Lima, Presidente Getúlio Vargas, and Alberto Pasqualini will be so important for the state-owned company, as it will expedite this process.

Among them, the main and most sought after by investors is the Presidente Getúlio Vargas Refinery, established in 1977, which refines about 213,000 barrels daily, making it the sixth largest in the country, attracting the attention of the private market.

Petrobras Announces Extension of Deadlines for Investors to Negotiate the Sale of Three Fuel Refineries in Brazil

Seeking To Ensure More Confidentiality And Security In Negotiations, Petrobras Has Just Announced An Extension Of The Deadlines For Investors To Express Interest In The Sale Of Three Fuel Refineries Located In The National Territory.

Deadline For Investors To Negotiate Their Interest In Purchasing The Fuel Refineries Abreu E Lima, Presidente Getúlio Vargas, And Alberto Pasqualini Is Postponed

Sale Of Petrobras’s Fuel Refineries Is Part Of The State-Owned Company’s Disinvestment Plan To Reduce Market Concentration In The Oil And Gas Sector

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Petrobras Announces Extension of Deadlines for Investors to Negotiate the Sale of Three Fuel Refineries in Brazil

Seeking To Ensure More Confidentiality And Security In Negotiations, Petrobras Has Just Announced An Extension Of The Deadlines For Investors To Express Interest In The Sale Of Three Fuel Refineries Located In The National Territory.

Deadline For Investors To Negotiate Their Interest In Purchasing The Fuel Refineries Abreu E Lima, Presidente Getúlio Vargas, And Alberto Pasqualini Is Postponed

Sale Of Petrobras’s Fuel Refineries Is Part Of The State-Owned Company’s Disinvestment Plan To Reduce Market Concentration In The Oil And Gas Sector

Family without running water in the interior of Ceará takes out a loan to drill an artesian well and discovers possible oil, but cannot use it, cannot sell it, and is left with a debt of R$ 15,000.

On the Greek island of Ithaca, archaeologists have found what may be a sanctuary dedicated to the legendary Odysseus, with inscriptions bearing his name and votive offerings that span from the Mycenaean to the Hellenistic era.

Is a smart plug worth it in a regular home? What does it offer: turns on and off via smartphone, creates routines by schedule, prevents forgotten devices, sometimes monitors consumption, and improves habits without renovation or miracles.

Spain surprises the world by erecting 62 artificial dunes, mixing sand with natural remains of posidonia, and causing the structure to lose only 1.4% of its volume in 1 year.

Geographers redefine the Brazilian relief and confirm the presence of mountains in 14 states with a new system that changes historical criteria and alters the way the territory is classified.

There is a city in China right next to Hong Kong where people speak Portuguese, the streets have names in Portuguese, and the architecture looks like it came straight out of a historic city in Brazil.

An analysis by NASA highlighted that the Great Wall of China and the Pyramids of Egypt are not visible to the naked eye from the International Space Station, and only one man-made structure is visible in this way.

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