Petrobras Starts Non-binding Phase For Refineries

(Petrobras, 24.Oct.2019) — Petrobras, following up on the press release issued on September 13, 2019, reports the beginning of the non-binding phase related to the sale of downstream assets, which includes: Isaac Sabbá Refinery (REMAN) in Amazonas, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) in Ceará, and the Shale Industrialization Unit (SIX) in Paraná, as well as their corresponding 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. 

Distribution of the descriptive memorandum will begin today for prospective qualified buyers who sign the Confidentiality Agreement and the Compliance Statement. Potential buyers will need to sign and submit these documents to Petrobras until December 6, 2019 and must state their interest as provided for in teasers up until November 22, 2019. 

Adjusted teasers including the extension of the above deadlines are available on the Petrobras website: http://www.petrobras.com.br/ri.

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 portfolio optimization and the company’s capital allocation improvement, aiming to maximize value for our shareholders. 

About the refineries

REMAN, located in Manaus, State of Amazonas, has a processing capacity of 46,000 barrels/day and its assets include a storage terminal. 

LUBNOR, located in Fortaleza, Ceará, has a processing capacity of 8,000 barrels/day, is one of the national leaders in asphalt production and the only one in the country to produce naphthenic lubricants.

SIX, located in São Mateus do Sul, Paraná, has an installed capacity of 6,000 barrels/day and its assets include a mine in one of the largest oil shale reserves in the world and a shale processing plant.

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