Petrobras Kicks Off Non-binding Phase Of REGAP

(Petrobras, 4.Oct.2019) — Petrobras, following up on the release dated 09/13/2019, informs the beginning of the non-binding phase related to the sale of the Gabriel Passos Refinery (REGAP) in Minas Gerais state, with its associated logistics assets. 

Potential buyers qualified for this phase will receive a descriptive memorandum with more detailed information about the aforementioned assets, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.

Regarding refineries Isaac Sabbá (REMAN) in Amazonas state, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) in Ceará state, and Unidade de Industrialização do Xisto (SIX) in Paraná state, the non-binding phase will be launched in the coming weeks and disclosed in due course.

This market disclosure is in accordance with Petrobras’ Divestment Methodology and with the special regime for the divestment of assets by federal mixed-capital companies, provided for in Decree 9.188/2017.

Downstream divestments are aligned with the company’s portfolio optimization and capital allocation improvement, aiming to maximize value for our shareholders. 

About REGAP

REGAP, located in the city of Betim, Minas Gerais state, has a processing capacity of 166,000 barrels per day (7% of Brazil’s total oil downstream capacity) and its assets include a pipeline set of over 720 km. 

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