Brazilian state-controlled Petrobras’ plan to sell half its 2.2mn b/d of domestic refning capacity should open up opportunities for domestic and foreign suppliers. The new refnery owners — the frst of which could be Abu Dhabi’s state- owned investment fund Mubadala next month — are likely to negotiate crude supply agreements with Petrobras to cover their short-term needs. But they will not have to rely on the company’s crude exclusively, a senior Petrobras executive tells Argus. The buyers will have other options from dozens of domestic produc- ers ranging from majors such as Shell to small independents. And they will be able to bring in supply from outside Brazil.
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