Petrobras has begun the non-binding phase related to the sale of the 166 000 bpd Gabriel Passos Refinery (REGAP) in Minas Gerais state, with its associated logistics assets.
Potential buyers qualified for this phase will receive a descriptive memorandum with more detailed information about the aforementioned assets, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals.
Regarding refineries Isaac Sabbá (REMAN) in Amazonas state, Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) in Ceará state, and Unidade de Industrialização do Xisto (SIX) in Paraná state, the non-binding phase will be launched in the coming weeks and disclosed in due course.
Petrobras commented that these downstream divestments are aligned with its portfolio optimisation and capital allocation improvement programme, aiming to maximise value for shareholders.
Read the article online at: https://www.hydrocarbonengineering.com/refining/07102019/petrobras-begins-non-binding-phase-of-regap-sale/