Rio de Janeiro, April 27, 2018 – Petróleo Brasileiro S.A. – Petrobras informs that it has started the disclosure stage of two divestment opportunities (Teasers) related to the sale of its interest in refining and logistics in two geographical regions in Brazil.
The model provides for the creation of two subsidiaries, one including assets from the Northeast region, and the other including assets from the South region. Petrobras intends to sell 60% of its equity interest in each of these new companies.
The Northeastern subsidiary will comprise two refineries, namely Landulpho Alves (RLAM), in the state of Bahia, and Abreu e Lima (RNEST), in the state of Pernambuco, as well as the associated logistics assets (pipelines and terminals) operated by Transpetro: 2 marine terminals (Madre de Deus and Suape) and 3 inland terminals (Candeias, Itabuna and Jequié), 2 oil supply pipelines, 1 polyduct and 35 refined products pipelines connecting refineries to distribution terminals and distribution bases.
The Southern company will comprise two refineries, namely Alberto Pasqualini (REFAP), in the state of Rio Grande do Sul, and Presidente Getúlio Vargas (REPAR), in the state of Paraná, as well as the associated logistics assets (pipelines and terminals), operated by Transpetro: 4 marine terminals (Paranaguá, São Francisco do Sul, Tramandaí and Niterói) and 3 inland terminals (Guaramirim, Itajaí and Biguaçu), 2 oil supply pipelines, 2 polyducts and 4 refined oil pipelines connecting refineries to distribution terminals and distribution bases.
The partnerships are part of Petrobras strategic repositioning in refining, transportation and logistics segments, in line with Petrobras’ Strategic Plan and Business and Management Plan, which provides for the establishment of partnerships and divestments as one of the main initiatives for risk mitigation, value adding, sharing of knowledge, strengthening of corporate governance and improving the company’s financiability.
The opportunities presented are in line with the company’s proposed model disclosed on April 19, 2018, widely debated at the seminar “Petrobras Repositioning in Refining”, held at Fundação Getulio Vargas in Rio de Janeiro, with representatives of the Ministry of Mines and Energy (MME), the National Petroleum Agency (ANP), the Brazilian Institute of Petroleum, Natural Gas and Biofuels (IBP), the Industry and the Academy.
Both Teasers containing key information about the above-mentioned opportunities, as well as the criteria for the selection of prospective purchasers, are available on Petrobras’ website at the following address:http://www.investidorpetrobras.com.br/en/press-releases.
Besides the Teaser, the main subsequent phases of each divestment project will be disclosed, as detailed below:
• Start of the non-binding phase (if applicable);
• Start of the binding phase;
• Concession of exclusive negotiation (if applicable);
• Transaction approval by Senior Management (Executive Board and Board of Directors) and signature of contracts;
The disclosure to the market herein is in compliance with Petrobras’ divestment methodology which is aligned with the special regime for asset disinvestment by Federal mixed-capital companies, provided for in Decree 9.188/2017.
This material is published pursuant to Brazilian regulatory requirements and does not constitute an offering under the U.S. securities laws and is not a solicitation, invitation or offer to buy or sell any securities. The information on our website, which is accessible through hyperlink resulting from this URL, is not and shall not be deemed part of this report on Form 6-K.
Teaser South Cluster South Cluster – Teaser
Teaser Northeast Cluster Northeast Cluster – Teaser