Second Brazil judge votes against Petrobras refinery privatizations

Credit: REUTERS/RICARDO MORAES

BRASILIA, Sept 21 (Reuters) - A second justice on Brazil's Supreme Court has voted against allowing state-owned oil company Petrobras PETR4.SA to go ahead with the planned sale of eight refineries, according to a court document reviewed by Reuters.

Justice Ricardo Lewandowski's vote to stop the privatizations comes after justice Edson Fachin similarly voted against it on Friday. Brazil's Congress had requested that the court suspend the transactions.

The Supreme Court has until Sept. 25 to rule on the matter, with the other nine justices yet to cast their votes.

Petroleo Brasileiro SA, as Petrobras is formally known, is in talks to sell refineries in Bahia and Parana states as part of an overall divestment plan that aims to sell eight refineries.

The company is in exclusive talks to sell the Rlam refinery in Bahia to Abu Dhabi state investor Mubadala Investment Co. Petrobras' bid to sell its Repar facility in Parana has attracted interest from Raizen, a joint venture between Royal Dutch Shell RDSa.L and Brazil's Cosan CSAN3.SA, as well as fuel company Ultrapar Participacoes UGPA3.SA.

(Reporting by Ricardo Brito; writing by Jake Spring and Aurora Ellis)

((jake.spring@thomsonreuters.com; +55 61 99653-2429; Reuters Messaging: jake.spring.thomsonreuters.com@reuters.net / Twitter: https://twitter.com/jakespring))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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