Brazilian Regulator Approves the Sale of Petrobras Refinery

Reuters, August 30, 2022

Brazilian antitrust regulator CADE on Tuesday approved the sale of Petrobras' REMAN refinery to Ream, which is part of the Atem group, but decided the buyer will have to take measures to guarantee that other fuel distributors have access to the plant's waterway terminal.

The approval with restrictions came in a 6-1 CADE board vote. State-run Petroleo Brasileiro SA, as Petrobras is formally known, had agreed to sell the REMAN refinery in the northern state of Amazonas for $189.5 million a year ago.

(Reporting by Rafaella Barros; Writing by Gabriel Araujo)

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