Petrobras starts binding phase of Regap

abarrelfullabarrelfull wrote on 01 Apr 2020 09:58

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December 20, 2019

Petróleo Brasileiro S.A. – Petrobras, following up on the release dated on October 4, 2019 informs the beginning of the binding phase related to the sale of Gabriel Passos Refinery (REGAP) in Minas
Gerais, with its corresponding logistical assets.

Potential buyers qualified for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.
This release complies with Petrobras' divestment methodology, in agreement with the special regime for the divestment of assets by federal mixed-capital companies, provided for in Decree 9,188/2017.

This operation is in line with the company’s portfolio optimization and improvement of capital allocation, aiming at creating value for our shareholders.
REGAP, located in the city of Betim, Minas Gerais, has a processing capacity of 166,000 barrels/day (7% of Brazil's total oil refining capacity) and its assets include a set of pipelines of over 720 km.

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