Petrobras approves tender to restart fertilizer plants in Brazil's northeast, say sources
The board of Brazilian state-run oil company Petrobras on Thursday approved plans to select a partner to restart operations at its fertilizer plants in northeastern Brazil, according to four sources familiar with the matter. But the move still hinges on resolving ongoing disputes with current leaseholder Unigel, added the sources, who requested anonymity as the decision has not yet been made public. Chemical company Unigel was demanding compensation from Petrobras for losses on the plants, as previously reported by Reuters, with the impasse marking a setback for President Luiz Inacio Lula da Silva's plans to reduce Brazil's dependency on imported fertilizer.