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Mubadala Capital acquires control of Mataripe Refinery

Mubadala Capital acquires control of Mataripe Refinery
The Acelen Mataripe refinery in Bahia (previously called RLAM) is the second-largest refinery in Brazil, with the largest installed capacity for the production of gasoline, diesel, and other petroleum derivatives in the North and Northeast regions (photo courtesy Acelen).

In Brazil, national oil and gas major Petróleo Brasileiro S.A. (Petrobras), and Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, a global sovereign investor based in Abu Dhabi, United Arab Emirates (UAE) have concluded the transfer of control of the Mataripe Refinery in Bahia (formerly called RLAM) to Acelen. Acelen is a new company created by Mubadala Capital for operations and management of the Mataripe Refinery and its related logistics assets.

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According to a statement, the sales contract was signed in March 2021, and the transfer of control was completed on November 30, 2021, following the completion of closure conditions.

Acelen will continue to supply the regional oil derivatives market and is committed to promoting investments, generating new business opportunities, and stimulating the development of Bahia and Brazil.

This new phase will bring growth opportunities and more investments for the refinery to increase its capacity and diversify its production. Our goal is to create value. It is about generating positive competition to serve the local market and benefit society, highlights Oscar Fahlgren, President of Mubadala Capital in Brazil.

Second-largest refinery in Brazil

Located in the Mataripe district, in São Francisco do Conde, RLAM was the first national refinery when it opened in 1950, and represents an economic and industrial milestone in the country.

It is currently the second-largest refinery in Brazil, with the largest installed capacity for the production of gasoline, diesel, and other petroleum derivatives in the North and Northeast regions.

There are 26 processing units, four terminals, and 201 storage tanks, in addition to 669 kilometers of pipelines that connect the refinery with the port terminals. The unit produces more than 30 products, including diesel, gasoline, aviation kerosene (QAV), asphalt, petrochemical naphtha, petrochemical gases (propane, propylene, and butane), paraffins, lubricants, LPG and fuel oils (industrial, thermal and bunker).

The refinery also enabled the development of the first planned petrochemical complex in Brazil and the largest industrial complex in the Southern Hemisphere, the Camaçari Industrial Complex, formed by more than 90 companies.

Important player

With the RLAM acquisition, Acelen is already emerging as an important player in the energy sector, with the capacity to process more than 300,000 barrels of oil per day, which corresponds to 14 percent of Brazil’s total refining capacity.

Additionally, Acelen is responsible for the largest industrial production in Bahia and accounts for a significant part of tax revenues.

Formed by a team with extensive experience in the oil and gas, fuel distribution, bioenergy, chemical, and petrochemical sectors, Acelen’s principle is respect for people and the refinery’s legacy of more than 70 years.

The Mataripe Refinery has a historical connection with Bahia and we are proud of this legacy. We will invest and work to modernize processes and increase production capacity, generating new opportunities and strengthening the entire oil production chain, said Luiz de Mendonça, CEO of Acelen.

Continue as service providers

Contracted by Acelen, Petrobras, and Transpetro will continue to provide services related to the operation of the refinery and its logistical assets to ensure a transition without the risk of disruptions.

In recent months, Acelen prepared for this transition, mapping all operational processes and the entire supply chain. The company values the experience of Petrobras employees, and hopes to count on the entire team that is on the front line of the operation after the end of the contract with Petrobras, ended Luiz de Mendonça.

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