Sale of Pasadena Refinery: Start of the binding phase

Rio de Janeiro, May 4, 2018 – Petróleo Brasileiro S.A. – Petrobras, further to the press release disclosed on 03/08/2018, announces the beginning of the binding phase related to the sale of the shares held by its subsidiary Petrobras America Inc (PAI) in the companies that integrate the Pasadena refining system, in the United States.

At this stage of the project, process letters are issued to potential buyers qualified in the previous phase with instructions about the divestment process, including the guidelines to conduct due diligence and submit binding offers.

This disclosure to the market is pursuant to Petrobras’ Divestment Program and aligned with the special regime for assets divestment by federal mixed-capital companies, provided for in Decree 9.188/2017.

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