Petrobras investigates sale of refinery to an Arab fund during the Bolsonaro government

The president of Petrobras, Jean Paul Prates, stated this Friday (5) that the sale of the Landulpho Alves Refinery (Rlam), in Bahia, is the subject of an internal investigation at the state-owned company and is being discussed with the control body. Renamed the Mataripe Refinery, the project was sold for US$ 1.65 billion (around R$ 8.08 billion at current exchange rates) to the Mubadala Capital fund, an Abu Dhabi company that belongs to the royal family of the United Arab Emirates. The deal was completed in November 2021.

This week, an audit by the Comptroller General of the Union (CGU) found that the sale was made below the market price, mainly due to the choice of timing for the deal, during the Covid-19 pandemic, when the international price of oil was low.

“The legitimacy of external control to oversee Petrobras’ activities is indisputable and necessary, forming the governance system that protects the company. Not for nothing, I pleaded, at the time I served as Senator of the Republic, for careful monitoring of this negotiation process and its consequences”, said Prates in the social network.

The report did not categorically state that there was an economic loss with the sale of the refinery, however, it questioned the timing of the deal, arguing that Petrobras could have waited for oil to recover on the international market, reported the Brazil Agency.

“The conclusions of the control bodies, among other inspection and investigation institutions, will guide the company’s actions, and are crucial for the preservation of the public and private assets that represent Petrobras”, stated the president of Petrobras.

In the social media, the Minister of Attorney General of the Union, Jorge Messias, suggested a possible connection between the sale of the refinery and the receipt of Saudi jewelry by the Bolsonaro government. The completion of the sale of the refinery occurred a month after the government delegation tried to enter Brazil with the jewelry. In March last year, the Federal Police began an investigation against former members of the government over the alleged attempt to sell gifts received during the previous administration.

“It is important to clarify whether there is any connection with the jewelry episode, which is already under investigation by the Federal Police. Leading the opposition in the Senate [durante o governo passado]We did [os partidos de oposição] numerous complaints about the inconsistencies of this privatization, clearly damaging public assets and Brazilian consumers”, wrote Messias.

The CGU minister, Vinicius Marques de Carvalho, reported that the audit on the sale of the refinery is with the Federal Police. “The PF has already had access to the report, which is already published on the CGU website,” he said. Former president Jair Bolsonaro (PL) denies any irregularities regarding the jewelry and has already stated that the sale of the refinery was approved by the Federal Audit Court (TCU).