Petrobras to sell eight Brazil refineries, help open domestic market

Rio de Janeiro — Brazil’s Petrobras plans to sell eight refineries, accounting for nearly half the country’s refining capacity, amid an aggressive move by the company’s new management to ramp up asset sales and open the domestic refined product market.


“The new directives for asset sales, with a focus on the refining and distribution segments that includes the full sale of PUDSA, a service-station network in Uruguay; eight refineries totaling 1.1 million b/d of refining capacity; and the sale of an additional stake in Petrobras Distribuidora, or BR,” the company said in a filing made with stock regulators Friday.


By Jeff Fick via S&P Global Platts


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