SAO PAULO, Nov 17 (Reuters) – Petrobras (PETR4.SA) on Thursday ended the sale process of its Gabriel Passos refinery (Regap) as the terms of an offer made fell short of its financial assessment, the Brazilian oil company said.
Petroleo Brasileiro SA, as the firm is formally known, said in a securities filing that it will “assess the appropriate time to start a new competitive process” to sell the refinery, located in the state of Minas Gerais.
The company did not disclose who made the offer.
Regap is part of a group of refining assets that Petrobras was supposed to sell under an agreement with Brazil’s antitrust watchdog to introduce competition in fuel pricing
Reporting by Carolina Pulice and Peter Frontini; editing by Jonathan Oatis and Brendan O’Boyle
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