Petrobras dá mais um passo para venda de sua refinaria em Minas Gerais

Petrobras Takes Another Step Toward Selling Its Refinery in Minas Gerais

Written by Renato Oliveira

Published on 05/10/2019 at 13:37

Updated on 05/10/2019 at 13:38

Petrobras passa para segunda fase o processo de venda

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Petrobras’ Refinery Sale Program Continues to Advance and Regap Process in Minas Gerais Moves to Second Phase

On September 13, Click Petroleum and Gas reported that Petrobras, steadfast in its divestment plan, had announced another batch of refineries to be privatized, including REGAP, RAMAN, LUBNOR, and SIX.
Continuing with the processes, the state-owned company advanced with the sale process of the Gabriel Passos refinery, REGAP in Minas Gerais. Now it was time for the entry of the so-called “non-binding phase” of the process.

In this phase, qualified interested parties will receive a descriptive memorandum containing more detailed information about the plant and instructions on how to prepare proposals to purchase the refinery responsible for processing 7% of Brazil’s oil.

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Divestments

The Gabriel Passos refinery (REGAP) has a processing capacity of 166 thousand barrels/day, which corresponds to 7% of Brazil’s total oil refining capacity, and its assets include a pipeline system of over 720 km.

As soon as they took power, the new government decided to leverage the divestment program and announced the sale of 8 refineries aiming to raise billions of dollars to reduce Petrobras’ debt level and refocus on Oil Exploration and Production in deep waters, the company’s main expertise, according to its new president, Roberto Castello Branco.

Petrobras also reported that the initiation of the same phase for the other refineries (Reman, Lubnor, and SIX) is expected to occur in the coming weeks.

“Divestments in refining align with portfolio optimization and improved capital allocation of the company, aiming to maximize value for our shareholders”, the company stated.

Petrobras Takes Another Step Toward Selling Its Refinery in Minas Gerais

Petrobras’ Refinery Sale Program Continues to Advance and Regap Process in Minas Gerais Moves to Second Phase

Divestments

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