Essar makes binding offer to Petrobras for Bahian refinery

Last Tuesday (30), sources told Reuters that the Indian multinational company Essar made a binding offer to Petrobras for the second largest oil refinery in Brazil, Landulpho Alves, known as RLAM, with a capacity of 323,000 barrels per day.

The company, which will compete in the dispute with Abu Dhabi's Mubadala Investment Company fund, has about $28 billion in investments in energy, infrastructure, mining and services assets. 

In a recent note to clients, Bradesco BBI analysts valued the RLAM refinery at US$2.5 billion.

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