Petrobras Announces It Received Purchase Proposals and Aims to Complete Sale of 8 Refineries by March Next Year

Written by Flavia Marinho

Published on 03/12/2020 at 16:49

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Petrobras’ Refining and Natural Gas Director Anelise Lara Stated That the State Company Will Remain Competitive in the Refining Market in the Country After the Sale of Eight of Its 13 Refineries

Petrobras announced today (12/03) in a relevant fact that it has received binding proposals for four refineries. The state company reported that it will sell the Landulpho Alves Refinery (RLAM) in Bahia, Isaac Sabbá Refinery (REMAN) in Amazonas, Lubricants and Oil Derivatives of the Northeast (LUBNOR) in Ceará, and the Shale Industrialization Unit (SIX) in Paraná.

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This week, executives from the oil company stated that the outlook is to receive the expected total value for the refineries by the end of 2021. So far, the refinery with the most advanced sale process is the Landulpho Alves Refinery (Rlam) in Bahia.

“We expect to close at least some of these divestments by the end of next year,” said the Refining and Natural Gas Director of the company, Anelise Lara.

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The state company is negotiating the sale of Rlam in Bahia with the sovereign fund Mubadala from Abu Dhabi. The transaction is already in the internal approval phase and should be finalized by January.

On December 10, Petrobras expects to receive binding offers for the sale of the Alberto Pasqualini Refinery (Refap) in Rio Grande do Sul and the Presidente Getúlio Vargas Refinery (Repar) in Paraná. The Gabriel Passos Refinery (Regap) in Minas Gerais and the Abreu e Lima Refinery (Rnest) should receive offers in the first quarter of 2021.

Lara also stated that Petrobras will continue to be competitive in the refining market in the Country after the sale of eight of its 13 refineries.

“We will continue with 1.1 million barrels of oil being processed per day. We have already taken various actions in energy efficiency, decarbonization, digital transformation, and we are also developing more advanced products,” said Lara.

Petrobras Clarifies

Petrobras clarifies that the Divestment System only provides for the disclosure to the market of the following stages of the process: teaser, start of the non-binding phase, start of the binding phase, signing of exclusivity agreement (when applicable), signing and closing.

Finally, Petrobras reinforces its commitment to the broad transparency of its divestment projects and portfolio management and informs that subsequent stages will be disclosed to the market according to the company’s Divestment System and Decree 9188/2017.

Petrobras Announces It Received Purchase Proposals and Aims to Complete Sale of 8 Refineries by March Next Year

Petrobras’ Refining and Natural Gas Director Anelise Lara Stated That the State Company Will Remain Competitive in the Refining Market in the Country After the Sale of Eight of Its 13 Refineries

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Petrobras Announces It Received Purchase Proposals and Aims to Complete Sale of 8 Refineries by March Next Year

Petrobras’ Refining and Natural Gas Director Anelise Lara Stated That the State Company Will Remain Competitive in the Refining Market in the Country After the Sale of Eight of Its 13 Refineries

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