Brazil's Petrobras believes Raizen, other distributors could buy refineries
Brazilian state-run oil firm Petrobras believes three types of companies, including domestic fuel distribution companies such as Raizen, could be interested in purchasing its refineries, an executive said.
Speaking at an event in Rio de Janeiro, Petrobras Chief Institutional Relations Officer Roberto Furian Ardenghy said fuel distribution firms, oil producers with operations in Brazil and trading firms could buy some refineries it has on the block.
“Today, we’re looking at three segments that could be interested in our facilities. The first segment is distributors, our friends at Raizen, and other companies that are here,” Ardenghy said.
Petrobras is planning to sell off eight of its refineries in a process Chief Executive Roberto Castello Branco has said could raise $15 billion. Castello Branco on Thursday said one of the refineries could be sold by the end of the year.
The possible buyers Ardenghy mentioned are essentially those forecast by analysts. Glencore PLC and Vitol SA , both active in commodities trading, recently entered the fuel distribution business in Brazil.
Raizen, Brazil’s second largest fuel distribution company, is a joint venture between Royal Dutch Shell PLC and Brazil’s Cosan SA. The company declined to comment. (Reporting by Gram Slattery; editing by Jonathan Oatis and Rosalba O’Brien)
Comments