trending Market Intelligence /marketintelligence/en/news-insights/trending/xfgugEvay8c8dJC4F4xbBQ2 content esgSubNav
In This List

Petrobras launches teasers to divest 2 onshore fields, 4 refineries

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Petrobras launches teasers to divest 2 onshore fields, 4 refineries

State-owned oil company Petróleo Brasileiro SA, or Petrobras, teased to sell its stakes in two onshore concessions, as well as outflow facilities, called the Cupiúba and Carapanaúba Cluster located in the Brazilian state of Amazonas, according to a Sept. 13 securities filing.

Petrobras holds a 100% stake in the cluster, which had an average production of 81 barrels of oil per day and 82,000 cubic meters of gas per day in 2018.

In a separate Sept. 13 filing, the company teased the second phase of its plan to divest a network of service stations in Uruguay and eight refineries with a total capacity of 1.1 million barrels per day.

The second phase will include the 166,000 barrels per day Gabriel Passos Refinery in Minas Gerais, 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.

According to an Aug. 26 report, the sale of the eight refineries attracted the attention of several large trading and oil companies as potential bidders.

The state-owned oil company set the deadline for nonbinding offers for the first four refineries on Oct. 11, the report said.

The divestments are part of Petrobras' ongoing plan to reduce debt and focus on the upstream sector.