RIO DE JANEIRO, March 20 (Reuters) - Brazil’s state-run oil company Petroleo Brasileiro said on Tuesday it will mothball two fertilizer factories towards the end of the first half of the year as it seeks to exit the fertilizer business. The units, called Fafen-SE and Fafen-BA, are located in the states of Sergipe and Bahia, and posted losses of 600 million reais ($182.63 million) and 200 million reais respectively last year, Petrobras said. $1 = 3.2854 reais Reporting by Alexandra Alper Editing by Bernadette Baum
State-run Brazilian oil firm Petroleo Brasileiro (Petrobras) will mothball its unprofitable Fafen-SE and Fafen-BA fertiliser plants toward the end of H1 2018 as the company seeks to exit the fertiliser industry, said refining director Jorge Celestino. The decision is expected to save about R$900 million ($865 million), he said. No buyers have come forward yet for either of the two sites, but there are offers for other units.