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Petrobras begins nonbinding phase to sell Gabriel Passos Refinery in Brazil

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Petrobras begins nonbinding phase to sell Gabriel Passos Refinery in Brazil

State-owned Petróleo Brasileiro SA, or Petrobras, started the nonbinding phase to sell its Gabriel Passos Refinery in the Brazilian state of Minas Gerais along with the associated logistics assets, according to an Oct. 4 release.

The refinery has a processing capacity of 166,000 barrels per day and has a pipeline set spanning over 720 kilometers.

The nonbinding phases for the 46,000 bbl/d Isaac Sabbá Refinery in Amazonas, the 8,000 bbl/d Lubrificantes e Derivados de Petróleo do Nordeste in Ceará and the 6,000 bbl/d Shale Industrialization Unit in Paraná will be disclosed in the coming weeks, the release said.

The company previously announced plans to divest a network of service stations in Uruguay and eight refineries with a total capacity of 1.1 million barrels per day. The nonbinding phase for the first four refineries was disclosed July 15, while teasers for the other four were released Sept. 13.

The sale is part of Petrobras' plan to reduce debt and focus on the offshore sector.