Insight
What can we expect from Petrobras’ refinery divestment programme?
Report summary
Petrobras re-started the sales process for 3 refineries in June 2022, including Abreu e Lima refinery (RNEST), Presidente Getúlio Vargas refinery (REPAR) and Alberto Pasqualini refinery (REFAP). These refineries are part of the company’s divestment plan announced in 2019, including Upstream and Downstream assets and are aligned with the company's new strategy. The sales of the assets aim to promote free competition in the refinery sector in the country. In this insight, we give an overview of the refinery system in Brazil and how the sale of these refineries could impact the oil products market in the country, considering the risks and uncertainties involved in the process and the possible outcomes.
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