MOSCOW (MRC) -- Brazil’s state-run oil company Petrobras SA has started the binding phase for the sale of four refineries, reported Hydrocarbonprocessing with reference to a filing.
In this first divestment phase, Petrobras has put up for sale refineries Abreu e Lima, Landulpho Alves, Presidente Getulio Vargas and Alberto Pasqualini. Potential buyers will receive invitation letters.
As MRC wrote previously, in October 2017, Petrobras’s minority stakes in Braskem and Deten Quimica was excluded from Petrobras’s divestment program, according to a government decree published in Brazil’s Official Gazette. The decree prevented Petrobras from immediately selling its minority stake in Braskem, which had been announced a year earlier. A new decree will be required to release the stock sale.
And this week, Brazilian polyolefins producer Braskem named the current chairman of the board, Roberto Simoes, as the company's new CEO, replacing Fernando Musa. Musa will remain CEO through 31 December to help Simoes transition to the new role, Braskem said. Simoes's appointment will become effective on 1 January.
We also remind that Braskem is no longer pursuing a petrochemical project, which would have included an ethane cracker, in West Virginia. And the company is seeking to sell the land that would have housed the cracker. The project, announced in 2013, had been on Braskem's back burner for several years.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,589,580 tonnes in the first nine months of 2019, up by 7% year on year. Shipments of all PE grades increased. The estimated PP consumption in the Russian market was 976,790 tonnes in January-September 2019, up by 4% year on year. Shipments of PP block copolymer and homopolymer PP increased.
Headquartered in Rio de Janeiro, Petrobras is an integrated energy firm. Petrobras' activities include exploration, exploitation and production of oil from reservoir wells, shale and other rocks as well as refining, processing, trade and transport of oil and oil products, natural gas and other fluid hydrocarbons, in addition to other energy-related activities.
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