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
19 April 2024
Cairo’s currency problems have hindered investment, but Pharos sees considerable potential as Egypt emerges from crisis
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy