According to Reuters, Petroleo Brasileiro SA (Petrobras) has announced that it will delay idling two of its fertilizer plants by 120 days.
Just last week, Reuters reported that the Brazilian state-owned oil company had announced its intention to mothball the two fertilizer factories located in Sergipe and Bahia states towards the end of 1H18. Now, the company has reportedly decided to hold off from doing so for 120 more days.
According to Reuters, this action comes as Petrobras seeks to exit the fertilizer business.
Read the article online at: https://www.worldfertilizer.com/project-news/28032018/petrobras-delays-mothballing-two-fertilizer-factories/
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The company has said that global market conditions and the uncertainty related to Brexit mean its proposed US$500 million senior secured notes offering cannot currently be issued as planned.
