Petrobras Closes Deten Sale to CEPSA

12.07.2022 - Brazilian oil group Petrobras has finalized the sale of its entire 27.88% stake in linear alkyl benzene (LAB) producer Deten Quimica to Spanish energy and petrochemicals group CEPSA Quimica for 514 million Brazilian reais.

CEPSA already had an indirect stake in Deten of 69.94% and the transaction with Petrobras lifts its total stake in the Brazilian LAB specialist to 97.82%.

Deten is Brazil’s sole producer of LAB, used in the production of linear acid alkylbenzene sulfonate (LABSA), which it also produces. Based in the Camacari industrial center in the northeastern state of Bahia, Deten has capacity of 23,000 t/y LAB and 120,000 t/y LABSA.

Petrobras said the sale is part of an ongoing optimization of its portfolio. The company’s board of directors approved the deal with CEPSA in April, having started the sale process in June 2021.

Author: Elaine Burridge, Freelance Journalist