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Brazil's Lula says Petrobras will seek to buy back refinery sold to Mubadala
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Brazil's Lula says Petrobras will seek to buy back refinery sold to Mubadala
Mar 20, 2026 10:31 AM

SAO PAULO, March 20 (Reuters) - Brazilian President Luiz

Inacio Lula da Silva said on Friday that state-run oil company

Petrobras will seek to buy back a refinery in Bahia

state that was sold to Abu Dhabi's sovereign fund Mubadala in

2021, under his predecessor Jair Bolsonaro.

"They sold the Bahia refinery, we will buy it back. It may

take a while, but we will," Lula told an event, referring to the

Mataripe refinery, owned by Mubadala's Acelen.

Petrobras and Mataripe did not immediately respond to

requests for comment.

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