Petrobras' divestment programme includes eight refineries
Petrobras refinery sale in limbo
Downstream divestment programme at risk as federal office scrutinises auction
Brazilian regulatory authorities have baulked at the $1.65bn selling price of the Landulpho Alves refinery (RLAM), agreed between state oil company Petrobras and Emirati investment fund Mubadala, and are threatening to suspend the transaction pending further investigation. Petrobras had valued the facility, in Bahia state, at more than $3bn. It is one of eight refineries being touted as part of the NOC’s divestment drive. Earlier in the year, Petrobras terminated the sale of its Presidente Getulio Vargas refinery when binding proposals came in lower than its financial estimate. But offloading non-core assets is a priority for the Brazilian company to cut debt and refocus on its more profitab
Also in this section
20 June 2025
The scale of energy demand growth by 2030 and beyond asks huge questions of gas supply especially in the US
20 June 2025
The Emirati company is ramping up its overseas expansion programme, taking it into new geographic areas that challenge long-held assumptions about Gulf NOCs
19 June 2025
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
19 June 2025
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
