The board of Brazil’s state-run oil firm Petrobras (PETR4) is expected to discuss this month plans to resume construction of a nitrogen fertilizer plant in the state of Mato Grosso do Sul, two government officials told Reuters. Jaime Verruck, the state’s secretary for Environment and Development, said he expects Petrobras to finish the unit in the town of Três Lagoas after getting clearance from the board. The company said last month that it was canceling the competitive process for the full sale of the Nitrogenated Fertilizers Unit III, which was in the binding phase. Petrobras’ presence in the sector would also mean a revision of the national fertilizer production plan, announced in March 2022 in an effort to lessen reliance on imports.
Sources: Reuters/Money Times (*Translated by Ia Niani)