Petrobras begins non-binding stage in sale of biofuels unit
Published by Nicholas Woodroof,
Editor
Hydrocarbon Engineering,
PBIO was founded in 2008 and is one of the largest producers of biodiesel in the country with 5.5% of market share in 2019. It has three biodiesel plants located in: (a) Montes Claros, in the state of Minas Gerais, with a production capacity of 167 000 m3/yr; (b) Candeias, in the state of Bahia, with a production capacity of 304 000 m3/yr, and (c) Quixadá, in the state of Ceará, mothballed, with a production capacity of 109 000 m3/yr.
The three plants are capable of using a mixture of up to five different raw materials (soy, cotton and palm oil, animal fat and waste oils) to produce biodiesel, capturing advantages of seasonal price dynamics.
This transaction consists of the sale of 100% of Petrobras' shares in PBIO, including the three biodiesel plants, and does not include the sale of PBIO's stake in BSBios Indústria e Comércio de Biodiesel Sul Brasil S.A. (50.0%). As disclosed to the market, on 10 July 2020, PBIO concluded the sale of its 8.4% stake in the company Bambuí Bioenergia S.A. to Turdus Participações S.A.
Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/04082020/petrobras-begins-non-binding-stage-in-sale-of-biofuels-unit/
You might also like
Harvestone Low Carbon Partners and Bank of America close US$205 million CCS tax equity financing
Harvestone Low Carbon Partners, LP (HLCP), a leading decarbonisation platform, and a portfolio company of Energy Capital Partners (ECP), has announced that it closed a first-of-its kind tax equity financing with Bank of America.
