CADE approves Petrobras sale of Lubnor with conditions

(PN) The court of the Administrative Council for Economic Defense (CADE) gave the green light for the sale of Lubrificantes e Derivados de Petróleo do Nordeste (Lubnor), in Ceará, to Grepar. The transaction was unanimously approved and the process was reported by board member Lenisa Rodrigues (photo). However, the plant will be sold through a Concentration Control Agreement (ACC). As a reminder, Lubnor was sold for US$ 34 million by Petrobras in May last year.

CADE imposed certain conditions on Grepar during the five-year period. They are: complying with rules of non-discrimination between asphalt buyers; naphthenic crude oil supply guarantee (OBN); total separation between Greca Distribuidora de Asfaltos and Grepar, with rules applicable to employees, quarantine period and prohibition of the exchange of sensitive information; and monitoring compliance with conditions by trustee.

The sale of Lubnor had already been approved by Cade’s General Superintendence in October 2022. The transaction was reviewed by the council after appeals filed by companies producing asphalt and lubricants. The refinery has an authorized processing capacity of 10,400 barrels per day. It is one of the national leaders in asphalt production and the only refining unit that produces naphthenic lubricants in the country.

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