Petrobras Launches Binding Phase to Sell REGAP Refinery

Brazil’s state-run oil company Petroleo Brasileiro SA, or Petrobras, said on Friday it had launched the binding phase for the sale of Gabriel Passos Refinery, known as REGAP, according to a securities filing.

Reuters reported on Tuesday, citing people with knowledge of the matter, that China’s Sinopec and U.S.-Based EIG Global Energy Partners had entered non-binding offers to buy REGAP, which has capacity to refine 166,000 barrels of oil per day.

(Reporting by Marta Nogueira; Writing by Jake Spring; Editing by David Evans)