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Mubadala Capital Takes Control of the Mataripe Refinery in Bahia
Rio de Janeiro, November 30, 2021 – This afternoon, an affiliate of Mubadala Capital and Petrobras concluded the transfer of ownership of the Mataripe Refinery (formerly known as RLAM) to Acelen. The parties signed the sales contract in March of this year and the sale transaction was completed today.
Acelen, the company created by Mubadala Capital to operate the asset, will take over the management of the Mataripe Refinery and its related logistics assets on December 1. Acelen will continue to supply the regional refined products market and is committed to promoting investment and generating new business opportunities, thereby contributing to the development of both Bahia and Brazil.
“We believe that this new phase will offer opportunities for growth and further investments so that the refinery can increase its capacity and diversify production. Our goal is to create value, to generate healthy competition to serve the local market and benefit society,” said Oscar Fahlgren, president of Mubadala Capital in Brazil.
Acelen was created to be a significant player in the energy sector, with the capacity to process more than 300 thousand barrels of oil per day, equivalent to 14% of Brazil’s total refining capacity. Furthermore, Acelen is the largest industrial producer in Bahia and accounts for a material share of taxes collected in the state.
Lead by a team with extensive experience in the oil & gas, fuel distribution, bioenergy, chemical and petrochemical sectors, Acelen’s founding principle is respect for people and the refinery’s long-standing legacy of more than 70 years.
“The Mataripe Refinery has deep historical ties with Bahia and we are proud of this legacy. We will invest and work to modernize processes and increase production capacity, thereby generating new opportunities and strengthening the entire oil production chain,” said Luiz de Mendonça, CEO of Acelen.
Petrobras and Transpetro will continue to provide services to Acelen
Acelen has hired Petrobras and Transpetro to provide transitional services related to the operation of the refinery and its logistics assets, thereby permitting a safe and seamless transition.
“Acelen has been preparing for this transition for months, mapping operational processes and the entire supply chain. The company places great value on the experience of Petrobras employees and hopes to continue counting on the entire frontline operational team once the contract with Petrobras ends,” said Luiz de Mendonça.
Located in the Mataripe district of São Francisco do Conde and inaugurated in 1950, RLAM was the first refinery in Brazil and represents an economic and industrial milestone for the country. It is currently the second largest in Brazil, with the highest installed capacity for production of gasoline, diesel and other oil derivatives in the country’s North and Northeast.
It has 26 processing units, 4 terminals and 201 storage tanks, in addition to 669 kilometers of pipeline connecting the refinery to port terminals. The complex produces more than 30 products, including diesel, gasoline, aviation kerosene (QAV), asphalt, petrochemical naphtha, petrochemical gases (propane, propane and butane), paraffins, lubricants, LPG and fuel oils (industrial, thermal and bunker).
The refinery was the engine behind the planned development of the first petrochemical complex in Brazil and is located in the largest industrial complex in the Southern Hemisphere, the Camaçari Industrial Hub, composed of more than 90 companies.
Acelen’s investments in safety, environmental education and professional training will seek to attract more entrepreneurs to Bahia and create new opportunities for work and income generation in the region.
About Mubadala Capital
Mubadala Capital is the asset management subsidiary of Mubadala Investment Company, a leading global sovereign investor headquartered in Abu Dhabi. In addition to managing its own balance sheet investments, Mubadala Capital manages c. $9bn of third-party capital on behalf of institutional investors in all of its businesses, including two funds in Brazil focused on special situations, three private equity funds, two early stage venture funds and a public fund.
About Acelen
Acelen is the newest owner of the Mataripe Refinery. The pillars underlying its strategy include operational excellence, generation of opportunities and respect for people and the environment. Acelen’s priorities also include continuing to supply oil derivatives to the domestic market, maximizing the use of its assets and investments in expansion and modernization.
Learn more at acelen.com
This press release contains forward-looking statements which can be identified by words such as: “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “expect,” “future,” “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance and are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated e vents and trends, the economy and other future conditions. Our actual results, financial condition and prospects may differ materially from those indicated in the forward-looking statements.
