*The CEO of Brazil’s state-run oil company Petrobras, Jean Paul Prates, has announced that negotiations are advancing for the company to regain operational control of the Landulpho Alves-Mataripe Refinery (RLAM) in the north-eastern state of Bahia. The refinery was sold to the Abu Dhabi sovereign wealth fund Mubadala in 2021 under former president Jair Bolsonaro (2019-2023). Following a meeting with Mubadala’s leadership in Abu Dhabi, Prates announced that both companies will intensify their negotiations with the aim of Petrobras taking back control over the refinery within the first six months of this year. At the same time, Petrobras and Mubadala will also discuss opportunities for partnerships on biofuels.
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LatinNews Daily - 14 February 2024
In brief: Brazil’s Petrobras in talks to regain control of UAE-owned refinery
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