Petrobras' divestment programme includes eight refineries
Petrobras refinery sale in limbo
Downstream divestment programme at risk as federal office scrutinises auction
Brazilian regulatory authorities have baulked at the $1.65bn selling price of the Landulpho Alves refinery (RLAM), agreed between state oil company Petrobras and Emirati investment fund Mubadala, and are threatening to suspend the transaction pending further investigation. Petrobras had valued the facility, in Bahia state, at more than $3bn. It is one of eight refineries being touted as part of the NOC’s divestment drive. Earlier in the year, Petrobras terminated the sale of its Presidente Getulio Vargas refinery when binding proposals came in lower than its financial estimate. But offloading non-core assets is a priority for the Brazilian company to cut debt and refocus on its more profitab
Also in this section
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
