Petrobras begins the sale phase of the RNEST, RLAM, REPAR and REFAP refineries

Binding phase begins for Petrobras refineries that are in the state-owned company's divestment plans

Petrobras, continuing the statement released on August 30, 2019, informs the beginning of the binding phase referring to the first stage of the sale of assets in refining and associated logistics in the country, which includes the Abreu e Lima refineries (RNEST) in Pernambuco, Landulpho Alves (RLAM) in Bahia, Presidente Getúlio Vargas (REPAR) in Paraná and Alberto Pasqualini (REFAP) in Rio Grande do Sul and their corresponding logistical assets.

Potential buyers classified for this phase will receive an invitation letter with detailed instructions on the divestment process, including guidelines for carrying out due diligence and for submitting binding proposals

This disclosure to the market is in accordance with Petrobras' divestment guidelines and the special regime for divestment of assets by federal mixed-capital companies, provided for in Decree 9.188/2017.

This operation is in line with portfolio optimization and the improvement of the company's capital allocation, with a view to generating value for our shareholders.

About Petrobras refineries

RNEST is located in Pernambuco, has a processing capacity of 130 barrels/day (5% of Brazil's total oil refining capacity) and the potential to double its capacity with the entry of the 2nd processing train, which could reach 260 barrels /day. Its assets include a storage terminal and a set of pipelines totaling 101km.

RLAM is located in the state of Bahia, has a processing capacity of 333 barrels/day (14% of Brazil's total oil refining capacity), and its assets include four storage terminals and a set of pipelines totaling 669 km.

REPAR is located in the state of Paraná, has a processing capacity of 208 barrels/day (9% of Brazil's total oil refining capacity), and its assets include five storage terminals and a set of pipelines totaling 476 km.

REFAP is located in Rio Grande do Sul, has a processing capacity of 208 barrels/day (9% of Brazil's total oil refining capacity), and its assets include two storage terminals and a set of pipelines totaling 260 km.

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Source: Petrobras Press Office

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