Mataripe Buyback Talks Stall as Petrobras Presses On With Refining Plans
Petrobras’s message to Acelen is clear: we don’t need Mataripe. With talks stalled and the company’s refining expansion plans intact, the buyback now hinges on price, not strategy. The post Mataripe Buyback Talks Stall as Petrobras Presses On With Refining Plans appeared first on The Rio Times .
Negotiations to repurchase the Mataripe refinery from Acelen, a company controlled by Abu Dhabi’s sovereign wealth fund Mubadala, have hit a dead end, according to Petrobras. The talks, which stalled after due diligence, remain unresolved as of 7 August 2026. CEO Magda Chambriard confirmed that while the company is still in negotiations, it is not in a hurry to buy back the refinery.
Instead, Petrobras is focusing on expanding its refining capacity, stating that it will do so with or without the asset. The situation represents a shift in Petrobras's strategic priorities and has significant implications for fuel prices, foreign investment, and Brazil's energy policy.
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