Petrobras Receives Bids for the Sale of Isaac Sabbá Refinery, Reman, in the State of Amazonas

Written by Flavia Marinho

Published on 30/10/2020 at 11:27

Roberto Castello Branco, CEO da Petrobras, disse ter recebido ofertas vinculantes por refinaria no Amazonas. A estatal espera desinvestimentos até meio de 2021.

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Roberto Castello Branco, CEO of Petrobras, stated that he has received binding offers for a refinery in Amazonas. The state-owned company expects divestments by mid-2021.

Petrobras is expected to finalize many divestments between the end of this year and the first half of 2021. The oil company has already received binding offers for the sale of the Isaac Sabbá Refinery, Reman, in the state of Amazonas. Petrobras announced this morning (30) progress on the sale of the Araucária Nitrogenados Fertilizer Unit (ANSA), in the state of Paraná

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Currently, Petrobras has 10 signed operations to be finalized, 32 projects in binding phase, and 7 assets in the initial phase of the divestment process.

The sales generated only US$ 1 billion in cash inflow between January and September of this year, a reflection of the coronavirus pandemic.

Petrobras is currently conducting a process to sell nine refineries, which correspond to about half of its processing capacity. The sales are the oil company’s main bet to achieve the divestment goal of US$ 20 to US$ 30 billion between 2020 and 2024.

Despite the Loss of 1.5 Billion Reais, Petrobras Recorded Surprisingly Good Results in the Third Quarter

Yesterday (10/28), Petrobras released through a relevant fact the operational and financial results for the third quarter of 2020. Although the state-owned company recorded a loss of R$ 1.55 billion, the loss was 43% lower than the second quarter, and according to Credit Suisse, Petrobras’ results were surprisingly good.

“In our opinion, this was a particularly impressive feat, given the profound impact that COVID-19 had on the oil industry. Markets are now fearing new lockdowns due to a second wave, especially in Europe. However, if macro conditions allow, we expect a positive market reaction,” says the report.

Petrobras Receives Bids for the Sale of Isaac Sabbá Refinery, Reman, in the State of Amazonas

Roberto Castello Branco, CEO of Petrobras, stated that he has received binding offers for a refinery in Amazonas. The state-owned company expects divestments by mid-2021.

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Petrobras Receives Bids for the Sale of Isaac Sabbá Refinery, Reman, in the State of Amazonas

Roberto Castello Branco, CEO of Petrobras, stated that he has received binding offers for a refinery in Amazonas. The state-owned company expects divestments by mid-2021.

See Also

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Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

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