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Petrobras confirms exit from fertilizer industry

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World Fertilizer,

Petrobras has reported that its board of directors has approved, in a meeting held 5 December 2018, the 2040 Strategic Plan and the 2019-2023 Business and Management Plan.

The strategies of the company were adjusted, defining the focus of its actions by business segment, in view of the transition toward a low-carbon economy, risks relating to the geographical concentration and commodity.

Petrobras plans to actively manage its portfolio for refining, logistics, trading and petrochemicals, integrated into the activities of national oil and gas production.

In addition, Petrobras will leave the fertilizer business, LPG distribution, biodiesel and ethanol holdings and production.

The plan foresees repositioning in refining by means of partnerships in the Northeast and South clusters, which represent 40% of the installed refining capacity in Brazil.

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