Acelen is interested in keeping all refinery employees, whose have the option of being reallocated to other Petrobras units
Prince Abu Dhabi's sovereign wealth fund Mubadala founded the company Acelen to manage and operate the Landulpho Alves-Mataripe (RLAM) oil refinery. The Group, which will take over the unit in December of this year, has already announced its plans to expand production, in addition to seeking integration with other industries and boosting the economy of the state of Bahia.
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Headquartered in São Francisco do Conde, the refinery was acquired from Petrobras in March 2021 for US$ 1,65 billion and the completion of the acquisition operation is in the final phase, according to the parent company's statement.
Acelen announces expansion and modernization projects, in addition to directing efforts to supply Bahia with petroleum products
Acelen's directors told the Bahia Econômica newspaper firsthand that they intend to maximize the use of the refinery's assets, investing in expansion and modernization projects, in addition to directing efforts towards the regional supply of oil derivatives, unlike what is currently happening with the refinery, which has been operating well below its capacity.
Also according to the newspaper, the Group wants to encourage the greatest possible integration with the existing industrial park in Bahia, especially the Petrochemical Complex, including evaluating the possibility of lengthening the production chain in order to stimulate the verticalization of production.
As an example, they remembered the possibilities of commercialization of by-products, such as Carbon Black in the rubber area, and other segments capable of establishing an integration strategy with local agents to lengthen the production chain.
Petrobras will maintain what is called an assisted operation for the first year and only gradually transfer full control to Acelen.
Acelen wants to keep all employees at the RLAM refinery in Bahia
Regarding labor, the company informs that in the sales process stability was guaranteed for all employees, but that the company's interest is to keep everyone, especially those with experience, seeking however to increase work productivity, increasing the competitiveness of the asset. According to the sales contract, those workers who do not want to stay at the company may be relocated to other Petrobras units.
The company informs that it will work preserving the environment, seeking to improve energy efficiency, the use of renewable energy and adopting a policy to expand the use of carbon credits. According to them, Acelen's strategy is the gradual transition from investment in high carbon to investments in low carbon, in accordance with the international strategy.
The executives also stated their intention to encourage the generation of local wealth in cooperation with municipal governments and also to expand tax collection, such as the ICMS, with the increase in production, and to act in cooperation with the government of the state of Bahia in stimulating the increase in local production and the development of new businesses.
RLAM was the first national refinery built in the country, starting operations in September 1950. It went through several operational upgrades. The refinery produces LPG, gasoline, diesel and petrochemical naphtha, among other products. In addition to facilities in Mataripe, RLAM has supply terminals and pipelines in the municipalities of Madre de Deus, Candeias, Jequié and Itabuna.
Mubadala Capital, which owns Acelen, is the asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor headquartered in Abu Dhabi. In addition to managing its own investment portfolio, the subsidiary manages $9 billion of third-party capital from institutional investors, including a fund in Brazil, three private equity funds, two early-stage venture capital funds and a public fund.
Mubadala Investment Company is a sovereign wealth fund, which operates as a state holding company in the United Arab Emirates. The organization is strongly linked to Mohamed bin Zayed, Crown Prince of Abu Dhabi.
