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Petrobras put the refineries in Paraná, Rio de Grande do Sul and Bahia up for sale; according to experts, privatization will make the sector more fragmented and competitive
Raízen and the owner of the Ipiranga – Ultra stations are still in contention for the Presidente Getúlio Vargas (Repar) refineries, in Paraná, and Alberto Pasqualini (Refap), in Rio Grande do Sul, put up for sale by Petrobras. looking for a job? Multinational Actemium in Macaé, starts offshore recruitment and selection for fundamental-level job vacancies.
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Raízen, from the Cosan Group, leads the dispute for the acquisition of one of the best refineries that Petrobras has put up for sale, the Presidente Getúlio Vargas (Repar) unit, in Paraná. In Rio Grande do Sul, the dispute is for the Ultra Group, owner of the Ipiranga gas stations, which already has operations in the region.
According to Estadão, the Mubadala fund, from the United Arab Emirates, in turn, had its eye on Repar, but is quoted to lead the dispute in Bahia, where Petrobras has put its Landulfo Alves refinery up for sale. The asset is considered as attractive as Repar, in Paraná.
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This is because, he informed, this outcome is the result of the low interest that other companies would have shown so far. Proposals to take the southern refineries must be delivered to Petrobras on December 10th.
Chinese investors, including Sinopec, could end up being left out of the competition, as they are more interested in oil infrastructure assets, such as pipelines, and in gas operations. Indians would also have looked at the assets.
The process will have a decisive stage in December
Petrobras should receive the binding proposals for Repar and Refap on December 10th. Estadão/Broadcast found that proposals by Repar, in Paraná, should be around US$ 3 billion, while by Refap, in Rio Grande do Sul, US$ 2 billion.
Repar and Refap are the first refineries in the list of eight of the 13 that Petrobras decided to sell as part of a divestment plan announced last year.
Gabriel Fonseca, XP analyst, argues that the privatization of refineries is an opportunity to guarantee Brazil expansion in refining capacity and, consequently, the maintenance of the supply of derivatives in the coming decades. He recalls that Petrobras has a monopoly on this service and the sale of such assets will leave the sector more fragmented, favoring free competition.
