Petrobras has inked fertilizer plant lease deal

The Brazilian state-owned oil and gas company Petroleo Brasileiro (Petrobras) has signed with Proquigel Química lease agreements of its fertilizer plants in Bahia and Sergipe for a period of 10 years, renewable for the same term.

These plants have a capacity of 1.3 and 1.8 thousand tons of urea per day, respectively.

Alongside this, Petrobras will also lease out fertilizer port terminals located in the Port of Aratu. These facilities have capacity to store and load up to 20 thousand tons of ammonia and 30 thousand tons of urea.

Urea, also called carbamide, has important uses as a fertilizer and feed supplement and is one of the most concentrated nitrogenous fertilizers.