Brazil’s Petroleo Brasileiro SA is set to receive binding offers for the country’s second-largest refinery on Thursday, five people with knowledge of the matter said, as the state oil company aims to restart a plan to divest more than $10 billion in assets.
If the deal for the Landulpho Alves refinery, also known as RLAM, is concluded, it would mark a first in the producer’s decade-long efforts to end its near-monopoly in refining in Brazil and open one of the top ten fuel markets in the world for private investors.
