Petrobras confirms Parana nitrogen plant closure

摘要

Brazil’s Petrobras confirmed the closure of its Araucaria nitrogen fertilizer plant (Fafen-PR) in Parana state on January 14 after failing to sell the facility. The 700,000 t/year urea Araucaria plant has been incurring financial losses since Petrobras acquired it from Vale in 2013 for $234 million. Petrobras revealed Araucaria generated a $250 million loss from January to September 2019. By the end of 2020, losses may exceed $400 million.