Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on December 22, 2023, informs that it is continuing discussions with Mubadala Capital regarding the formation of a downstream partnership in Brazil, the scope of which involves evaluating the acquisition of a stake in the Mataripe S.A. Refinery (RefMat) and a project under development for an integrated biorefinery (Biorrefinaria).
Petrobras will begin the business evaluation phase, which will include due diligence of the assets, as well as discussion of the appropriate business model for each one. The scope of potential future investments and the development of new technologies will also be discussed together with Mubadala Capital.
Petrobras and Mubadala Capital inform that they have not signed any binding document on the partnership to date and reinforce that the process of analyzing the partnership will be done with respect for the processes and internal governance of both companies, the people and the commitments made to governments, regulatory agencies and other stakeholders.
About RefMat
The Mataripe Refinery, located in São Francisco do Conde in the state of Bahia, has a processing capacity of 333,000 barrels/day, and its assets include four storage terminals and a set of pipelines that connect the refinery and the terminals, totaling 669 km in length.
About the Biorefinery
The integrated biorefining project, with a projected production capacity of 20 thousand barrels/day (in the initial phase), includes a plant to produce renewable diesel and sustainable jet fuel from vegetable oil from native crops, with operations in the states of Bahia and Minas Gerais.
Material facts will be disclosed to the market in due course.
Brazil Energy Insight 
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