Petrobras announces termination of contract to sell LUBNOR refinery

Source: www.gulfoilandgas.com 11/27/2023, Location: South America

Petrobras, in continuation of the announcements made on 06/22/2023 and 02/08/2023, informs that the contract for the sale of the Lubrificantes e Derivados de Petróleo do Nordeste (LUBNOR) refinery, and its associated logistics assets, was terminated due to the lack of compliance with Conditions Precedent established therein until the Final Deadline defined in such contract (11/25/2023), despite the best efforts undertaken by Petrobras to conclude the transaction.

Petrobras reinforces its commitment to LUBNOR's operational continuity, to the reliability and availability of its units and to ensuring safety and respect for the environment and people.

About LUBNOR
LUBNOR, located in Fortaleza, Ceará, has an authorized processing capacity of 8,200 barrels/day, is one of the country's leading asphalt producers and is the only refining unit in the country to produce naphthenic lubricants.


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