Petrobras President Says That Even With Delays, The Oil Company Will Complete Sale Of The Remaining 08 Refineries

Written by Valdemar Medeiros

Published on 02/12/2020 at 12:41

Refinarias da Petrobras

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Petrobras States That the Sale of the Remaining 08 Refineries Will Happen Before the End of the Year and That the Oil Company Is Committed to This.

Roberto Castello Branco – The Current President of Petrobras Stated in a Recent Interview on 11/30 That Even Amid Delays, the Oil Company Aims to Finalize the Sale of the Remaining Refineries.

Some Refineries Are Already Advanced

The President of Petrobras Has Already Confirmed That Six of the Eight Refineries Currently up for Sale by the Oil Company Are in a More Advanced State. The Remaining Two Refineries Should Be Sold in the First Half of 2021.

“We Have Received Several Proposals for Repar (PR) and Refap (RS) on December 10, At This Point We Can Affirm That Six of Petrobras’ Eight Refineries Are Already Secured for Sale and the Other Two That Remain Will Receive Binding Offers Early Next Year”, Declared the President of the Oil Company – Castello Branco.

ARTICLE CONTINUES BELOW

Petrobras May Increase Crude Oil Exports After Selling the Refineries

The Logistics Director of Petrobras Stated That After the Sale of the Oil Company’s Refineries is Completed, the Amount of Exported Oil Could Be Doubled. “It Doesn’t Make Economic Sense to Import Oil, but We Can Also Increase Exports”, Said Chiarini.

Petrobras Says Major Divestitures Are Coming to an End

Petrobras Is in Advanced Stages of Several Important Divestitures, Executives Said on Thursday, Indicating That the Company’s Ambitious Deleveraging Program May Accelerate After a Pause During the Worst Coronavirus Outbreak in Brazil.

In Statements to Analysts Following the Company’s Third Quarter Results, Executives from Petrobras, as the State-Owned Company is Formally Known, Said They Expect to Finalize Negotiations to Sell Their RLAM Refinery by Year-End and Have Recently Received Binding Offers for Their REMAN Refinery in the Amazon City of Manaus.

Petrobras President Says That Even With Delays, The Oil Company Will Complete Sale Of The Remaining 08 Refineries

Petrobras States That the Sale of the Remaining 08 Refineries Will Happen Before the End of the Year and That the Oil Company Is Committed to This.

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Petrobras President Says That Even With Delays, The Oil Company Will Complete Sale Of The Remaining 08 Refineries

Petrobras States That the Sale of the Remaining 08 Refineries Will Happen Before the End of the Year and That the Oil Company Is Committed to This.

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In 1991, Brazil’s GDP was almost double India’s, and today it is little more than half: while India grew 6.5% per year and trained engineers, Brazil preferred to train lawyers, and now it is rushing to strengthen ties with the world’s fourth-largest economy.

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