Brazil's Lula says Petrobras will seek to buy back refinery sold to Mubadala

ReutersMar 20, 2026 5:07 PM

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SAO PAULO, March 20 (Reuters) - Brazilian President Luiz Inacio Lula da Silva said on Friday that state-run oil company Petrobras PETR3.SA 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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