Petrobras Pulls Out of Selling Brazil's Third Largest Refinery

Petrobras Pulls Out of Selling Brazil’s Third Largest Refinery

Written by Renato Oliveira

Published on 26/07/2019 at 16:12

Refinaria da Petrobras

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The Revap, Henrique Lage Refinery, in São José dos Campos, Is Removed from Petrobras’ Divestment List and Will No Longer Be Sold.

Petrobras made the decision to remove Revap, its third-largest refinery from the list of 8 refineries it promised to sell, according to its divestment plan.
Although Petrobras has not disclosed the reason for this decision, it is believed, according to experts, that the initiative is due to a market strategy of the company.

The Henrique Lage Refinery, located in São José dos Campos, is the major supplier of aviation fuel in the state of São Paulo, being responsible for about 80%.
To illustrate the importance of the refinery, all fuel for supplying Guarulhos airport comes from this unit, in addition to its significance for the regional economy, with its 6,000 jobs.

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The Eight Refineries That Will Be Sold

Petrobras has 13 refineries throughout Brazil, and according to its divestment plan, it received approval from CADE to sell eight of them.
The state-owned company’s intention is to “raise cash” to reduce its debt level, which reached R$ 78.8 billion in March of this year.

The eight refineries have been divided into two groups of four each, and the first four to be sold were announced at the end of June and are: Abreu e Lima (RNEST), in Pernambuco; Landulpho Alves (RLAM), in Bahia; Presidente Getúlio Vargas (Repar), in Paraná; and Alberto Pasqualini (Refap), in Rio Grande do Sul.

The other four refineries that will be sold, according to Petrobras, are: Gabriel Passos Refinery (REGAP), in Minas Gerais; Isaac Sabbá (REMAN), in Amazonas; Shale Industrialization Unit (SIX), in Paraná; and Lubricants and Derived Products from the Northeast (LUBNOR), in Ceará.

It is speculated in the market that Petrobras would maintain control over assets in the Southeast, its main consumer hub, which are the refineries of Duque de Caxias, in Rio de Janeiro, and Presidente Bernardes, Capuava, and Paulínia, all located in São Paulo, as well as Henrique Lage.

Petrobras Pulls Out of Selling Brazil’s Third Largest Refinery

The Revap, Henrique Lage Refinery, in São José dos Campos, Is Removed from Petrobras’ Divestment List and Will No Longer Be Sold.

The Eight Refineries That Will Be Sold

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Petrobras Pulls Out of Selling Brazil’s Third Largest Refinery

The Revap, Henrique Lage Refinery, in São José dos Campos, Is Removed from Petrobras’ Divestment List and Will No Longer Be Sold.

The Eight Refineries That Will Be Sold

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

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.

He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

The river that “dies” in the desert never reaches the sea and yet gives life to one of Africa’s largest natural refuges in a truly impressive way.

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