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Petrobras to begin sale of downstream assets in Brazil

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Brazilian petroleum company Petrobras has announced the beginning of the non-binding phase related the start of its sale of downstream assets and associated logistics in Brazil.

The assets to be sold include the refineries Abreu e Lima (RNEST) in Pernambuco, Landulpho Alves (RLAM) in Bahia, Presidente Getúlio Vargas (REPAR) in Paraná, and Alberto Pasqualini (REFAP) in Rio Grande do Sul.

According to the company, potential buyers will be offered further information about the assets, in addition to instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

The sale of these downstream assets is in line with Petrobras’ portfolio optimisation and its capital allocation improvement, as the company looks to maximise value for its shareholders.