Petrobras Starts Refinery Binding Phase

(Petrobras, 31.Jan.2020) — Petrobras, following up on the press release disclosed on 10/24/2019, informs the beginning of the 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 process letter with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.

This disclosure is in accordance with the guidelines for the Petrobras’ divestments and with the special regime for the divestment of assets by federal mixed-capital companies, provided for in Decree 9,188/2017.

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

About the refineries

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

LUBNOR, located in Fortaleza, Ceará, has a processing capacity of 8 thousand 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 thousand 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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