Petrobras is seeking to restart the sales process for the UFN-III fertilizer plant following a failed negotiation with Russia's Acron Group, driven by business model disagreements. Concurrently, interest from Unigel has surged as it eyes the asset after Acron's departure. The Brazilian state-run oil company continues to report positive developments in its oil production, with a 1.6% increase in output, and is projected to release earnings of $0.76 per share, contributing to its relatively strong financial outlook despite recent challenges.
“Petrobras · will increase · natural prices for distributors · 19%”
“Petrobras · said the adjustment follows · the updating of formulas · based on the variation of gas prices, Brent oil and the exchange rate”
“Petrobras · failed to close the sale of · UFN-III fertilizer plant · to Russia's Acron Group due to differences regarding the business model”
“Petrobras · will look to start a new process to sell · UFN-III · as soon as possible”
“Petrobras · had announced a deal to sell · the plant · to Acron in February”
“Acron · held talks with Petrobras · about buying the plant · in 2018 which were suspended before resuming last year”
“State-run Petrobras · rose · 1.6% · after reporting a rise in oil production in the first quarter”
“Unigel · is interested in purchasing · a fertilizer project · from Brazilian state-run oil company Petrobras in the state of Mato Grosso do Sul”
“Unigel · has increased interest · after talks between Petrobras and Russia's Akron Group failed”
“Petrobras · has been trying to sell · the Nitrogen Fertilizer Unit III (UFN-III) · for years”
“Petrobras · has invested · about 3 billion reais · in the plant”
“Petrobras · oil production · in the first quarter · 2.231 million barrels per day”
