Petrobras Extends Deadline To Divest Of Refineries

(Petrobras, 30.Aug.2019) — Petrobras, following up on the releases disclosed on 06/28/2019 and 07/15/2019, referring to the first stage of the sale processes of downstream and logistics assets in Brazil, which includes the refineries Abreu e Lima (RNEST), Landulpho Alves Refinery (RLAM), President Getúlio Vargas (REPAR) and Alberto Pasqualini (REFAP), reports that, due to market’s interest, the deadline to express intent to participate in the processes foreseen in the Teasers was postponed to 09/16/2019.

The deadline for signing the Confidentiality Agreement and other documents remains 09/27/2019.

The adjusted Teasers are available on Petrobras website: http://www.petrobras.com.br/ir.

Subsequent stages of these processes will be informed to the market in due course.

This operation is in line with the company’s portfolio optimization and improvement of capital allocation, aiming at creating value for our shareholders.

About the refineries

RNEST is located in the state of Pernambuco and has a processing capacity of 130.000 barrels/day (5% of Brazil’s total oil refining capacity) and a potential to double its capacity with the entry of a second processing line (“segundo trem”), reaching 260 thousand barrels/day. Its assets include a storage terminal and a set of short pipelines (101km).

REFAP is located in the state of Rio Grande do Sul, has a processing capacity of 208,000 barrels/day (9% of Brazil’s total oil refining capacity), and its assets include two storage terminals and a set of pipelines totaling 260 km.

REPAR is located in the states of Paraná, has a processing capacity of 208,000 barrels per day (9% of Brazil’s total oil refining capacity), and its assets include five storage terminals and a set of pipelines in total of 476 km.

RLAN is located in the state of Bahia, has a processing capacity of 333,000 barrels/day (14% of Brazil’s total oil refining capacity), and its assets include four storage terminals and a set of pipelines totaling 669 km.

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