Petrobras announces the closing of Pasadena Refinery sale

Rio de Janeiro, May 1, 2019 – Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on 01/30/2019, informs that it has completed, through its subsidiary Petrobras America Inc. (PAI), the sale to Chevron USA Inc. (Chevron) of 100% of its shares in the companies that encompass Pasadena’s entire refining operations system in the United States.

The transaction closed today with the payment by Chevron to PAI of US$ 467 million (about R$ 1.8 billion), of which US$ 350 million corresponds to equity and US$ 117 million corresponds to working capital, which will be adjusted later to reflect the closing date position.

This operation is in line with the company’s portfolio optimization and improvement of its capital allocation, aiming value generation for our shareholders.

 

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