Abu Dhabi's Mubadala buys refinery assets from Brazil's Petrobras for $1.65bn | The National
Abu Dhabi's Mubadala Group bought a refinery and logistics assets from Brazil's state oil company Petrobras for $1.65 billion, as the company looks to expand its oil and gas assets abroad.
The transaction included the sale of the Landulpho Alves Refinery as well its associated logistics assets in the state of Bahia.
The refinery, one of Brazil's oldest, is also its third largest. It includes an integrated petrochemical complex, which is one of the largest in the southern hemisphere.
It is capable of refining liquefied petroleum gas, gasoline, diesel fuel and lubricants. It has a capacity of 333,000 barrels per day.
Mubadala has exposure to the associated chemicals assets through its investment in Spanish group Cepsa, in which it is the majority shareholder with a 63 per cent stake.
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