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Fertilizer plant talks between Petrobras and Acron ongoing, say sources

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World Fertilizer,

Petrobras has not called off or altered talks to sell an unfinished fertilizer plant to Russian group Acron even as Russia’s invasion of Ukraine has triggered Western sanctions, two Brazilians close to the deal told Reuters last week.

Petrobras reached a preliminary agreement to sell the UFN3 fertilizer project in early February, ahead of Brazil’s President Jair Bolsonaro’s trip to Moscow.

“Negotiations are moving forward ... based on the memo signed by both sides,” said one of the sources, who requested anonymity to discuss confidential talks.

Asked about progress on the deal, Petrobras said it had no updates.

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