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Petrobras confirms continuity of divestments with signed contracts

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Petrobras confirms continuity of divestments with signed contracts

Brazil’s federal oil firm Petrobras will continue divestment processes whose contracts have already been signed and will keep analyzing more opportunities, according to a press release.

The statement comes after the government required the halting of processes underway. 

These include divestments from lubricants refinery Lubnor (pictured), the Potiguar and Norte Capixaba onshore hubs, the Golfinho/Camarupim offshore hub in Espírito Santo, and the Pescada shallow water hub in Rio Grande do Norte. 

Lubnor was sold to Grepar Participações in May 2022 for US$34mn, but the operation is pending approval from antitrust authority Cade. 

The sale contract for the Potiguar hub was inked in January 2022 with 3R Petroleum for US$1.38bn, and the transfer of Petrobras’ stake is being analyzed by sector watchdog ANP. 

The regulator is also assessing the sales of the Norte Capixaba hub, the Golfinho and Camarupim fields and the Pescada hub, whose contracts were signed with Seacrest Petróleo (US$544mn), BW Energy (US$75mn) and 3R Petroleum (US$1.5mn).

BW Energy, 3R Petroleum and Seacrest Petróleo confirmed that Petrobras will continue the transactions involving the Golfinho, Potiguar and Norte Capixaba hubs.

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