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Petrobras announces intention to mothball two fertilizer factories

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World Fertilizer,

According to Reuters, Petroleo Brasileiro (Petrobras) – the Brazilian state-run oil company – has announced that it will mothball two fertilizer factories towards the end of 1H18.

The units (Fafen-SE and Fafen-BA) are in Sergipe and Bahia, and reported losses of 600 million reais (US$182.63 million) and 200 million reais last year, respectively.

According to Reuters, Petrobras is looking to exit the fertilizer business.

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