MUBADALA FUND CREATES ACELEN COMPANY TO BE OWNER OF THE LANDULPHO ALVES REFINERY (RLAM) SOLD BY PETROBRAS

(PetroNoticias) The future owner of the Landulpho Alves Refinery (RLAM) will be called Acelen. The new company was created by the Mubadala Capital fund, which signed a refinery acquisition contract with Petrobras in March, and is expected to take over the asset when the purchase process is completed, which is subject to some precedent conditions, after much discussion in the courts due to the positioning of the Federation of Oil Workers (FUP), which were against the sale. The new company defends operational excellence, generation of opportunities and respect for workers and the environment, according to its statement. One of the company’s premises will be the regional supply of oil products. In addition, Acelen intends to maximize the use of the refinery’s assets, investing in expansion and modernization projects.

Located in the Mataripe district, in São Francisco do Conde (BA), RLAM is the first national refinery. It began operations in September 1950 and underwent several accelerated updates. The refinery produces LPG, gasoline, diesel, petrochemical naphtha, among other products. In addition to the facilities in Mataripe, the operation includes assets such as supply terminals and pipelines in the municipalities of Madre de Deus, Candeias, Jequié and Itabuna. Mubadala Capital is the asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor based in Abu Dhabi. In addition to managing its own investment portfolio, Mubadala Capital manages U$ 9 billion of third-party capital on behalf of institutional investors across all of its businesses, including one fund in Brazil, three private equity funds, two venture capital funds in initial stage and a public fund.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by WordPress.com.

Up ↑

%d bloggers like this: