(Petrobras, 9.Jul.2024) — Petrobras has signed a Master Agreement with Yara Brasil Fertilizantes S.A. as a next step in its negotiations to structure potential business partnerships in the fertilizer segment, production of industrial products and decarbonization of production, in line with the Memorandum of Understanding (MOU) signed by the parties on 29 Feb. 2024.
The Master Agreement is non-binding and aligned with the company’s strategic guidelines approved last year, in which investing in fertilizer production has once again become part of Petrobras’s portfolio, as disclosed in the Strategic Plan 2024-28+.
Yara Brasil is a company controlled by its Norwegian holding Yara International ASA, whose largest shareholder is the government of Norway, which has a direct stake of approximately 36% in the company, and an indirect stake of 7%, through the Norwegian Government Pension Fund.
In the next phase, Petrobras and Yara will jointly finalize the analysis of potential synergies between their operations, focused on increasing efficiency in the domestic fertilizer and industrial products market, including possible decarbonization solutions.
ABOUT YARA
Founded in Norway in 1905, Yara is present worldwide, with more than 17,000 employees and operations in more than 60 countries. In Brazil, Yara is ideally positioned in all the main agricultural hubs. With more than 5,000 employees, the company serves all types of producers and crops, contributing to the growth of agriculture and the country’s leasing role in the challenge of feeding a growing world population. Since setting up in Brazil in the 1970s, Yara has been working to boost fertilizer production, reducing dependence on raw material imports and modernizing the national industry, in line with its global commitment to the decarbonization agenda.
____________________
