Brazil’s Petroleo Brasileiro SA is set to receive binding offers on Dec. 10 for its Rio Grande do Sul state refinery Refap, with Indian conglomerate Essar Group and local firms Raizen and Ultrapar Participacoes SA among its potential bidders, people familiar with the negotiations said.
All three companies have been pre-qualified for the binding phase for Refap refinery, also known as Alberto Pasqualini, the sources added, declining to be named as the details are confidential.
Petrobras, as Brazil’s state-controlled producer is known, will also receive offers on the same day for its Parana state refinery – Presidente Getulio Vargas, or Repar – as part of a rebidding sale process. In September, both Raizen and Ultrapar delivered bids that were too similar in value.
