PETROBRAS EXPECTS TO SIGN MOST REFINERIES SALES IN 2021 AND COMPLETE RLAM NEGOTIATION IN UP TO TWO MONTHS

Jul 30, 2020

Petrobras stated in its financial report that it expects to sign until the first quarter of next year the sale of most of its refineries that are in the process of divesting. In addition, the state company also believes that it may definitively conclude these transactions in 2021.

Due to the coronavirus pandemic, the oil company was forced to extend the deadline for binding offers related to refineries, but said that it hopes to “resume this phase in the coming months”.  Petrobras is selling half of its refining park – the equivalent of eight plants. One of them, Landulpho Alves, in Bahia, already has its sales process well underway.

The company’s president, Roberto Castello Branco, said in a conference call with investors, that he expects to complete the transaction in one or two months. In the market, what is commented is that the sovereign fund of Abu Dhabi – Mubadala – made the best proposal for the plant.

Source: PetroNoticias

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