Brazilian oil giant Petrobras, Ultra group, in the gas, chemical and transport sector, and petrochemical company Braskem signed an agreement to acquire the businesses of Ipiranga group. The value of the operation will be US$ 4 billion. Ipiranga operates in the oil refining, petrochemical and fuel distribution sectors.
Petroleo Brasileiro S.A. (Petrobras) is a wholly owned enterprise of the Brazilian Government, which is engaged in the energy sector. Petrobras is divided into four business areas: Exploration and Production, Downstream, Gas & Energy and International, and two support functions, which are Finance and Services. The Company has over 100 production platforms, 16 refineries, 30,000 kilometers of ducts and more than 6,000 gas stations. Petrobras is also present in other countries, namely Angola, Argentina, Bolivia, Colombia, Nigeria, and the United States, as well as having the support of its overseas offices in New York (ESNOR), and Japan (ESJAP). Brazilian oil company Petrobras has signed an agreement with the Ministry of Energy and Mineral Resources of Jordan that forecasts the viability study for the use of the Brazilian company's technology in the production of oil in the Arab country. The technology is Petrosix, for the production of schist oil, and it should be used in the AUG block, in the Attarat field, in the Arab country.
Braskem S.A. (Braskem) is an integrated petrochemical cracker and thermoplastics producer in Brazil. The Company produces a portfolio of petrochemical products, and focuses on polyethylene, polypropylene and polyvinyl chloride (PVC). Braskem operates through four business units: Basic Petrochemicals, Polyolefins, Vinyls and Business Development. The Basic Petrochemicals Unit includes the Company's basic petrochemical production activities, and supply of electricity, steam and compressed air to second-generation producers. The Polyolefins Unit encompasses activities related to the production of polyethylene and polypropylene. The Vinyls Unit is engaged in the production of PVC, caustic soda and chlorine. The Business Development Unit is engaged in activities related to the production of other second-generation petrochemical products. On April 6, 2006, the Company acquired all of the common and preferred shares of Politeno Industria e Comercio S.A.
Ultrapar Participações S.A. (Ultra Group)one of Brazil's most solid conglomerates। It unites three different companies, each with a prominent position in its own segment: Ultragaz, the leader in Brazil's distribution market for Liquid Petroleum Gas (LPG), with a 24% market share; Oxiteno, the largest producer of specialty chemicals in Brazil and the only manufacturer of ethylene oxide and its main derivatives in Mercosur area (comprising Brazil, Argentina, Paraguay and Uruguay); and Ultracargo, a leading provider of integrated road transport, storage and handling services for chemicals and fuels.
Petrobras will take over the Ipiranga distribution network in the North, Northeast and Midwest, and will have up to five years to use the Ipiranga brand, after which it will have to be replaced for the Petrobras Distribuidora brand। Braskem will manage 60% of the assets of Ipiranga Group in the petrochemical sector. Ultra will have the Ipiranga fuel distribution network in the South and Southeast of the country, and will continue running it under the Ipiranga brand. Petrobras will keep the other 40% of the Ipiranga group petrochemical activities.
The Ipiranga Refinery, in the southernmost Brazilian state of Rio Grande do Sul, will be equally controlled by Petrobras, Ultra Group and Braskem, who agree to proceed with the activities.
