Petrobras to sell stake in biodiesel company BSBios
Brazil-headed oil and gas major Petróleo Brasileiro S.A. (Petrobras) has announced that it has initiated the opportunity disclosure stage related to the sale of 100 percent of the shares held by Petrobras Biocombustíveis (PBIO), a wholly-owned subsidiary of Petrobras, in the biodiesel company BSBios. Petrobras stake is 50 percent of the company's capital.
The largest biodiesel producer in Brazil, BSBios owns two biodiesel plants, located in Passo Fundo-RS and Marialva-PR respectively. Both plants have an annual production capacity of 288 000 m³ of biodiesel. The divestment is in keeping with the company’s previously announced 2017-2021 Business and Management Plan which “prioritizes oil exploration and production (E&P) projects in Brazil, with emphasis on deep water”.