Petrobras begins non-binding phase of REGAP

Oct 4, 2019

Following the announcement issued on September 13, 2019, Petrobras announces the beginning of the non-binding phase related to the sale of Gabriel Passos Refinery (REGAP) in Minas Gerais, with its corresponding logistics assets.

Potential buyers eligible for this phase will receive a descriptive memorandum containing more detailed information on the assets in question, as well as instructions on the divestment process, including guidance on the preparation and submission of non-binding proposals.

Regarding the refineries Isaac Sabbá (REMAN) in Amazonia, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) in Ceará and Unidade de Industrialização do Xisto (SIX) in Paraná, the beginning of the non-binding phase will occur in the coming weeks and will be announced in due course. .

This disclosure to the market is in accordance with Petrobras’ Divestment program and the special asset divestment regime by federal mixed capital companies, provided for in Decree 9.188 / 2017.

Refining divestments are aligned with portfolio optimization and improved capital allocation to maximize value for our shareholders.

About REGAP

REGAP, located in the municipality of Betim, Minas Gerais, has a processing capacity of 166,000 barrels per day (7% of Brazil’s total oil refining capacity) and its assets include a pipeline network of over 720 km.

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