The Brazilian national oil and gas company Petrobras has signed an agreement with Ream Participações (ATEM group) on the sale of its Isaac Sabbá Refinery (REMAN) and its associated logistics assets in the state of Amazonas (Brazil) for US$189.5m. The sale is subject to regulatory approvals, including that of the Administrative Council for Economic Defense (CADE). The REMAN refinery has a capacity of 46,000 bbl/d and includes a storage terminal. It is the second refinery with the purchase and sale agreement signed, among eight refineries held for sale by Petrobras. Petrobras intends to sell eight refineries with a total refining capacity of 1.1 mb/d, namely the Refinaria Abreu e Lima (RNEST) in Bahia, Refinaria Landulpho Alves (RLAM) in Pernambuco, Refinaria Gabriel Passos (REGAP) in Minas Gerais, Refinaria Presidente Getúlio Vargas (REPAR) in Parana, Refinaria Alberto Pasqualini (REFAP) in Rio Grande do Sul, Refinaria Isaac Sabbá (REMAN) in Amazonas, Unidade de Industrialização do Xisto (SIX) in Parana, and Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) in Ceara.
In addition, Petrobras is discussing with 3R Petroleum on the sale of the Potiguar Cluster, which includes a set of 26 concessions of onshore and shallow waters production fields and the Clara Camarão refinery, in the state of Rio Grande do Norte. 3R Petroleum has submitted the best proposal - above US$1bn - and entered the negotiation phase for the acquisition of these assets.
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