Petrobras goes to Kidd to renegotiate the refinery sales agreement signed by Bolsonaro

The state expects large-scale investments in this sector
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247 – Reuters reported that Petrobras had submitted requests to the antitrust agency Kidd to renegotiate the terms signed between the two parties during the government of Jair Bolsonaro that determined the company’s sale of oil refining, natural gas transportation and distribution assets.

In the renegotiation requests sent last Friday and attached to the process, the oil company reiterated that its new strategic plan 2024-2028, published last week, the first under the current government of Luiz Inácio Lula da Silva, foresees extensive investments in these assets.

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Petrobras also told Kidd that the goal is to “operate in a competitive and secure way, achieving maximum value by adapting and optimizing our industrial park, supply chain and logistics,” as well as striving to be self-sufficient in derivatives, with vertical integration.

The new management of Petrobras has confirmed that it is against selling assets, as previous administrations did.

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These terms were signed in mid-2019 and were part of a broad initiative by the federal government at the time to reduce Petrobras’ involvement in the oil and gas sector.

In the agreements, the oil company committed to a timetable to dispose of all its oil refineries outside the states of Rio de Janeiro and São Paulo, in addition to its assets related to the transportation and distribution of natural gas.

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In the case of the refineries, Petrobras sold the Rlam, Reman, SIX and Lubnor units.

But in the case of Lobinor, the oil company canceled the sales agreement the day before, citing non-compliance with the previous conditions within the specified period. The buyer denies this.

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On Friday, Petrobras CEO Jean-Paul Prats told reporters that the company would no longer sell refineries and that it would invest in units to become industrial parks, including initiatives aimed at the energy transition.

The CEO also said on Friday that a buyback of part of the Mataribe (formerly Ralam) refinery in Bahia is a possibility and that the issue is under discussion with the unit’s owner, Mubadala Group.

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Reuters reported in September that Petrobras was considering possible ways to buy back Matarebe, but progress in this regard would depend primarily on progress in the oil company’s negotiations with Kidd.

In the case of gas, the oil company has sold the NTS and TAG natural gas transportation networks in recent years, as well as Gaspetro, which owns shares in several gas distributors, but wants to avoid selling its stake in TBG, which brings the original gas from the country. Bolivia.

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Kidd also said in a statement that she does not comment on ongoing issues.

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