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.