Brazil’s Petróleo Brasileiro S.A. reported on June 6 that it has started talks with Unigel Participações S.A. (Unigel) to analyze joint projects in fertilizers, green hydrogen, and low carbon initiatives, according to a regulatory filing cited by Bloomberg.
The two companies have signed a Non-Disclosure Agreement effective for two years. Estimates of the cost and returns of the joint projects will be available only after the completion of a technical analysis by a multidisciplinary group.
Founded in 1966, Unigel is a leader in styrenics, acrylics, and nitrogen fertilizers, consolidating itself as one of the largest chemical companies in Latin America and the largest manufacturer of nitrogen fertilizers in Brazil. Recent news reports said the company is seeking a partner for its green hydrogen/ammonia project in Bahia (GM July 29, 2022).