October 4, 2021
Brazil's state-owned oil company Petrobras has called off talks to sell a refinery to local conglomerate Ultrapar, saying the two sides did not reach an agreement after months of negotiations.
"As a result, Petrobras will timely start a new competitive process for this refinery," the company said in a securities filing on Friday.
Petrobras announced in January that it had entered discussions with Ultrapar to sell the Refinaria Alberto Pasqualini (Refap) in the southern state of Rio Grande do Sul
Brazil's state-owned oil company fails to come to terms with the local conglomerate but says it will soon reopen the bidding for Refap