Petrobras has announced that it has signed a master agreement with Yara Brasil Fertilizantes S.A. (Yara) as a next step in its negotiations to structure potential business partnerships in the fertilizer segment, production of industrial products and decarbonisation of production.
This in line with the memorandum of understanding (MOU) signed by the parties on February 29 2024.
The master agreement is non-binding and aligned with the company’s strategic guidelines approved last year, in which investing in fertilizer production has once again become part of Petrobras’s portfolio, as disclosed in the Strategic Plan 2024-28+.
Yara Brasil is a company controlled by its Norwegian holding Yara International ASA (Yara Internacional), whose largest shareholder is the government of Norway, which has a direct stake of approximately 36% in the company, and an indirect stake of 7%, through the Norwegian Government Pension Fund.
In the next phase, Petrobras and Yara will jointly finalise the analysis of potential synergies between their operations, focused on increasing efficiency in the domestic fertilizer and industrial products market, including possible decarbonisation solutions.