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Divestment Plan

MME establishes guidelines for divestment in the Brazilian refining sector

06/26/2020 | 22h05
MME establishes guidelines for divestment in the Brazilian refining sector
Petrobras Agency Petrobras Agency

The National Energy Policy Council (CNPE), on May 9, 2019, made a historic decision to promote competition in the oil refining activity in the country by approving its Resolution No. 9.

 

The Resolution established guidelines for divestments that may be made by companies that occupy a dominant position in the national refining segment. Thus, it is of interest to the National Energy Policy, that the sale of refineries and their respective logistics assets take place at the same time, and that the logistics infrastructure is preferably transferred to unregulated economic groups in the relevant market, observing the regulation for third party access.

 

In addition, the Resolution established that it is also in the interest of the National Energy Policy that potentially competing refineries are sold to different economic groups and that in no case is the seller's ownership interest in these ventures maintained.

 

The CNPE Resolution is a sectoral landmark of great relevance and aims to stimulate the entry of new actors and attract investments to the sector. There is an expectation of increased competition in the primary supply of fuels and other oil products, ensuring that the market will continue to be able to serve the Brazilian consumer, with better conditions of supply, price and quality of products.

 

The National Agency of Petroleum, Natural Gas and Biofuels (ANP) remains attentive to the movements of the Brazilian market and the emergence of a new reality. The Agency constantly monitors the impact of new circumstances, as a way to keep the fuel sector rules up to date, preserving the dialogue with economic agents. Its performance is guided by the improvement of regulation, as a way to guarantee the supply of oil products throughout the national territory, free competition and protection of consumer rights.

 

The ANP recently expressed a more comprehensive position on the sale of logistics assets. For the Agency, the logistics infrastructure of refineries must be operated by companies other than the refiner, even though they are made up of the same economic group as the refinery purchaser, that is, by logistics operators.

 

It should be noted that the preference to be given to the owner of the facilities for handling their own products is guaranteed by ANP, through its regulations, built with the broad participation of society, while also observing the regulation for third party access, aiming to promote maximum use transport capacity by available means.

 

For the Ministry of Mines and Energy (MME), the ANP's recent positioning is in line with CNPE guidelines, as it expands the universe of agents recommended to operate the logistics assets of divested refineries, enhancing the promotion of competition pursued by the policy national energy sector.



Font: T&B Petroleum/Press Office MME
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