Petrobras pushes Brazil fertilizer plans, weighs $800M for plant - Bloomberg [Seeking Alpha]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
Company Research
Source: Seeking Alpha
Petrobras ( PBR ) was a significant fertilizer producer but decided to exit the business in 2018 under the previous government, but the current administration of President Luiz Inacio Lula da Silva wants to rebuild the domestic industry. Work on UFN-III was stopped in 2014 with ~80% completed, and Petrobras ( PBR ) managers are double-checking the $800M spending forecast while also discussing potential partnerships, according to the report. The four Petrobras ( PBR ) fertilizer plants that are currently halted have capacity to supply 35% of Brazil's demand for urea, one of the country's most-used fertilizers; the company said last month it will resume its Araucaria fertilizer unit, which should occur by May 2025. Petrobras ( PBR ) also is reportedly looking into innovation in the segment, such as ways of producing green ammonia; and the company announced a partnership with Brazilian agricultural research firm Embrapa for research on renewable raw materials to obtain low-carbon
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