Petrobras on Partnership with Mubadala Capital

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(Petrobras, 15.Mar.2024) — Petrobras, following up on the release disclosed on 22 Dec. 2023, informs that it is continuing discussions with Mubadala Capital regarding the formation of a downstream partnership in Brazil, the scope of which involves evaluating the acquisition of a stake in the Mataripe S.A. Refinery (RefMat) and a project under development for an integrated biorefinery (Biorrefinaria).

Petrobras will begin the business evaluation phase, which will include due diligence of the assets, as well as discussion of the appropriate business model for each one. The scope of potential future investments and the development of new technologies will also be discussed together with Mubadala.

Petrobras and Mubadala have not signed any binding document on the partnership to date and reinforce that the process of analyzing the partnership will be done with respect for the processes and internal governance of both companies, the people and the commitments made to governments, regulatory agencies and other stakeholders.

About RefMat

The Mataripe Refinery, located in São Francisco do Conde in the state of Bahia, has a processing capacity of 333,000 b/d, and its assets include four storage terminals and a set of pipelines that connect the refinery and the terminals, totaling 669km in length.

About the Biorefinery

The integrated biorefining project, with a projected production capacity of 20,000 b/d (in the initial phase), includes a plant to produce renewable diesel and sustainable jet fuel from vegetable oil from native crops, with operations in the states of Bahia and Minas Gerais.


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