Petrobras Expects To Seal Refinery Sale To Mubadala

(Reuters 31.Jul.2020) — Brazilian state-run oil firm Petroleo Brasileiro SA expects to conclude unilateral negotiations regarding the sale of its RLAM refinery in northeastern Brazil within “one or two months,” Chief Executive Roberto Castello Branco said on Friday.

Abu Dhabi’s investment fund Mubadala Investment Co is in exclusive negotiations with Petrobras, as the Brazilian company is commonly known, after presenting the highest bid for the asset during a competitive bidding process.

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Reporting by Sabrina Valle and Gram Slattery Editing by Paul Simao