Abu Dhabi state investment house Mubadala may be poised to expand its presence in Brazil. Its only current Brazil assets are held via subsidiary Cepsa (61.5%): two offshore exploration blocks and a controlling stake in the Deten Química petrochemicals complex.

Mubadala has bid for the 323,000 b/d Landulpho Alves refinery known as RLAM, according to a 26 June Reuters report. RLAM is the first of eight refineries to be sold by Petrobras in a plan to raise over $10bn (MEES, 6 December 2019). The refinery is one of Brazil’s most complex but is expected to require investment. It will be sold along with associated pipeline and terminals. (CONTINUED - 133 WORDS)