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.
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.