en.Wedoany.com Reported - Petrobras is in talks with the UAE's Mubadala Investment Company to repurchase the Mataripe refinery. This refinery is Brazil's second-largest refining facility and is currently operating at only about 60% capacity, while Petrobras's other plants are running at full capacity to increase domestic production. Sources revealed that a deal could be reached by the end of this year.

Last month, Brazilian President Luiz Inácio Lula da Silva stated that Petrobras would repurchase the refinery. In his remarks, he noted, "Brazil needs to strengthen its energy autonomy." Subsequently, Petrobras confirmed it is evaluating a potential transaction. The Mataripe refinery was sold during the tenure of Lula's predecessor, Jair Bolsonaro.

With global diesel prices rising due to international conflicts, Brazil relies on imports for about a quarter of its diesel demand. Petrobras's plans to increase refining capacity have therefore become more urgent. Ahead of the October presidential election, rising fuel costs have become a significant issue, as Lula seeks re-election.

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