Lula Expresses Interest in Petrobras Repurchasing Mataripe Refinery
Brazilian President Lula recently stated that the government is studying the repurchase of the Mataripe Refinery in Bahia for Petrobras. He highlighted the refinery's underutilization and Brazil's continued reliance on significant diesel imports. The refinery, formerly owned by Petrobras, was sold to the Mubadala Capital group in 2021.
Brazilian President Luiz Inácio Lula da Silva stated on Thursday, the 2nd, that he is interested in having Petrobras repurchase the Mataripe Refinery, formerly known as the Landulpho Alves Refinery (RLAM), located in São Francisco do Conde, Bahia. The president made this announcement during an interview with TV Record Bahia.
“We are very interested and have been studying for some time the necessity for Petrobras to repurchase the Bahia refinery. The refinery is producing less than half of what it should, and we need it to produce much more. You know that we produce 70% of our diesel, but we still buy 30% of it,” Lula explained.
G1 news outlet contacted Petrobras and the Mubadala Capital group, which established Acelen, the company managing the Mataripe Refinery, for more details regarding the potential repurchase. The Mubadala group stated it would not comment on the matter. Petrobras had not responded to the request by the last update of this report.
Regarding the refinery's production, Acelen reported that it currently operates at an average utilization rate above 85%, maintaining levels close to its installed capacity of 302,000 barrels per day. The company further noted that in 2025, the unit achieved an average rate of 86.3%, processing approximately 261,000 barrels per day. Petrobras had announced the completion of the sale of the Landulpho Alves Refinery and its associated assets to the UAE-based Mubadala Capital group in November 2021, with the transaction exceeding R$10 billion.