Mubadala Acquires Petrobras Refinery for $1.65 Billion

Published February 10th, 2021 - 11:00 GMT
Mubadala Acquires Petrobras Refinery for $1.65 Billion
Petrobras has also received proposals for the sale of the Presidente Getúlio Vargas Refinery (REPAR), in Paraná, but it decided to close the process. (Shutterstock)

Brazilian state-led oil company Petrobras has agreed to sell Landulpho Alves Refinery (RLAM) and its associated logistics assets in Bahia to Abu Dhabi-based Mubadala Capital, the financial investment arm of Mubadala, for $1.65 billion.

“The signing of the purchase and sale agreement is still subject to the approval of the relevant corporate bodies,” a Petrobras statement said.

Petrobras has also received proposals for the sale of the Presidente Getúlio Vargas Refinery (REPAR), in Paraná, but it decided to close the process, awaiting the appropriate proposal for its economic-financial evaluation. It said it will start a new competitive process for this refinery in due time.

The competitive processes for the sale of the Alberto Pasqualini Refinery (REFAP), in Rio Grande do Sul, Isaac Sabbá Refinery (REMAN), in Amazonas, Abreu e Lima Refinery (RNEST), in Pernambuco, Gabriel Passos Refinery (REGAP), in Minas Gerais, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR), in Ceará, and Unidade de Industrialização do Xisto (SIX), in Paraná, are still in progress aiming at the signing of the purchase and sale agreements. 


Copyright 2021 Al Hilal Publishing and Marketing Group

You may also like