Yara Brasil Fertilizantes SA and Brazil’s Petróleo Brasileiro SA (Petrobras) on July 9 signed a Master Agreement to explore potential business partnerships related to the production and decarbonization of local fertilizer and industrial products, the companies reported.
In the next phase, Petrobras said it and Yara will jointly finalize the analysis of potential synergies between their operations. The agreement follows the signing of a non-binding Memorandum of Understanding (MOU) between the two parties earlier this year (GM March 1, p. 30).
The Master Agreement is also non-binding, and Petrobras said it is “in line with the review of the company’s strategic guidelines approved last year, by which investment in fertilizer production is once again part of Petrobras’ portfolio, in accordance with the Strategic Plan 2024-28+.”