Petrobras (PETR4) Advances in Partnerships With Saudi Colleagues, Says Prates.

Written by Paulo Nogueira

Published on 29/11/2023 at 14:24

O executivo participou nesta quarta-feira, 29, da mesa de debates do Fórum Empresarial Arábia Saudita-Brasil, em Riad, na Arábia Saudita

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On the 29th, Wednesday, the executive was present at the roundtable of the Saudi Arabia-Brazil Business Forum in Riyadh, Saudi Arabia, where he discussed relevant issues for the business market and the partnership between the two countries. His participation contributed to an enriching and productive dialogue, strengthening ties between the nations and promoting mutually beneficial business opportunities.

According to Jean Paul Prates, the current intention of Petrobras is to revitalize all units. The first to resume operations will be the unit in Paraná, which is currently in a state of hibernation. Furthermore, negotiations are already underway for potential collaborative projects at the leased plants in Bahia and Sergipe. Regarding the Três Lagoas plant, operations are expected to begin in 2028, with the possibility of an earlier timeline.

In the meeting, President Lula also urged Saudi Arabia to consider establishing partnerships in the area of fertilizers.

Brazil is the largest importer of this input, while also being one of the world’s leading food suppliers. Petrobras currently operates four fertilizer plants, including one under construction, UFN III, in Três Lagoas, Mato Grosso do Sul, which had its sale announced by the Bolsonaro government to the Russian group Acron, but was canceled; in addition to three others that were deactivated (Fafen-PR) and leased (Fafen-BA and Fafen-SE) between 2019 and 2020.

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The Brazilian Government at the United Nations Climate Change Conference

The Brazilian government is present in the region to participate in COP-28, the United Nations Climate Change Conference, which will start in Dubai, United Arab Emirates, on Thursday, the 30th.

The meeting in Riyadh, organized by Apex Brazil, brought together major Brazilian and Saudi companies and organizations aimed at promoting bilateral economic development.

According to Prates, during the discussion panel on energy, the potential of Brazil to lead the energy transition was emphasized, due to its predominantly renewable energy and electricity matrix. This represents both a challenge and a benchmark for Brazil’s relations with Saudi Arabia and other countries.

The leader of Petrobras (PETR3;PETR4), Jean Paul Prates, mentioned on a social media platform that the company is making progress in agreements with Saudi partners to collaborate on projects related to energy security, accessibility, and sustainability, without going into details.

The business leader participated in the Saudi Arabia-Brazil Business Forum in Riyadh, Saudi Arabia, alongside former President Luiz Inácio Lula da Silva on October 29th.

Source: InfoMoney

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Petrobras (PETR4) Advances in Partnerships With Saudi Colleagues, Says Prates.

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

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Petrobras (PETR4) Advances in Partnerships With Saudi Colleagues, Says Prates.

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