Ladies and Gentlemn,

Since last September, Petrobras has completed formalities with MUBADALA INVESTMENT GROPU from Abhu Dahbi for the total transference of their refinery (RLAM) at Madre de Deus complex. Sources say that the purchase has involved a sum of approx. USD 1.65 Billion, and this investment group has already acquired the actives of Rio de Janeiro subway and the yellow line at the same city.

It has now been broadcasted by Petrobras that, as from next December 1st the transference of actives will be completed, and MUBADALA Group will be taking over the operations of refinery. Seems that buyers have a plan of immediate investments in the refinery totalling some USD 100 Milion.

It has also been informed that as all operations will be transferred to the new owner of RLAM, Petrobras has decided that they will no longer offer bunkrs at the port of Salvador, as physical suppliers after December 1st. Unofficially, we heard that MUBADALA is opening a bid to have the bunkering services restablished under their control, although, earliest the market expects bunker activities to be normalized will be as from March 2022.

Sultrade / Researching Dept.

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