Petrobras starts sale process for refining and logistics assets

Brazil’s state-controlled oil company Petroleo Brasileiro SA announced the start of a sale process for refining and logistics assets, according to a securities filing.

Petrobras, as the company is known, said the nonbinding phase involves refineries Abreu e Lima (Rnest), Landulpho Alves (Rlam), Presidente Getúlio Vargas (Repar) and Alberto Pasqualini (Refap). “Potential buyers qualified for this phase will receive a descriptive memorandum containing more detailed information on the assets,” the company said in the filing. (Reporting by Gabriela Mello; editing by Jonathan Oatis)