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Groups dispute Petrobras refinery

Three companies presented proposals to buy Petrobras’s Presidente Getúlio Vargas Refinery (Repar), in Paraná. The potential investors are following developments of the Supreme Federal Court (STF) judgment on the request by the National Congress to prevent the sale of state-owned refineries. The trial started Friday with a vote against the State, given by the rapporteur, Justice Edson Fachin. At the same time, Petrobras is negotiating with Mubadala, from the United Arab Emirates, to sell the Landulpho Alves Refinery (Rlam), in Bahia. Among those interested in Repar are both Brazilian and foreign companies. Market players say that Indian group Essar is a candidate to buy one of Petrobras refineries. Grupo Ultra (owner of Ipiranga brand), Raízen (Shell/Cosan) and Chinese Sinopec are other names that showed interested in refineries owned by the oil company.

Source: Valor International

https://www.valor.com.br/international/briefs

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Petrobras sells oil fields after four months with no divestments

After four months without being able to sign a single contract to sell its mature oil fields, state-run Petrobras in August managed to sell four assets for a total of $285 million. The onshore fields, whose sale had stalled due to the collapse in oil prices, went to small upstart oil companies, including Karavan Oil and Petrorecôncavo. A third company, 3R Petroleum – controlled by Starboard – bought two of the four fields that were recently sold. A year ago, private companies like the three buyers represented just 4.5% of oil output in the country, but in July accounted for 13% of production, according to national oil agency ANP.

Source: Valor International

https://www.valor.com.br/international/briefs

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Petrobras to adopt permanent home office

Petrobras administrative employees will be allowed to work remotely up to three days per week once the pandemic restrictions are over. The home office option is permanent and voluntary. About 25,000 employees are working from home since March, a policy that the company expects to maintain until the end of the year. In an internal poll done in August, 11,000 employees showed interest in working remotely permanently.

Source: Valor International

https://www.valor.com.br/international/briefs

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