Petrobras headquarters in Rio de Janeiro, Brazil
Petrobras refinery sales stutter
Pledge to divest half of the company’s refining capacity by year-end is starting to look doubtful
Brazilian state oil company Petrobras has terminated the sale of its Alberto Pasqualini (Refap) refinery, in the state of Rio Grande do Sul, after negotiations with fuel distribution conglomerate Ultrapar broke down. The refinery sale is the third downstream deal to fall through since the NOC pledged to offload half of its refinery capacity in 2019. The divestment process for the 208,000bl/d Presidente Getulio Vargas (Repar) refinery fell apart after bidding fell short of the asking price. In Amazonas state, the smaller Abreu e Lima (RNEST) refinery failed to attract significant bidders, forcing Petrobras to restart the sales process on both facilities. Collapsed talks leave Petrobras having
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
