Yara Brasil Fertilizantes and Petrobras Advance Towards Potential Business Partnership

Yara Brasil Fertilizantes and Petrobras Advance Towards Potential Business Partnership

(IN BRIEF) Yara Brasil Fertilizantes and Petrobras have signed a non-binding Master Agreement to explore potential synergies in their operations, following a prior Memorandum of Understanding signed in February 2024. The focus is on enhancing efficiencies in Brazil’s fertilizer and industrial products market, with a keen interest in exploring decarbonization pathways. Both companies aim to leverage their strengths to support domestic production growth and address future decarbonization challenges across various sectors. Further updates on their partnership progress will be provided in the future.

(PRESS RELEASE) OSLO, 11-Jul-2024 — /EuropaWire/ — Yara Brasil Fertilizantes S.A. (Yara) and Petróleo Brasileiro S.A. – Petrobras have taken a significant step forward in their partnership negotiations by signing a non-binding Master Agreement. This agreement follows the Memorandum of Understanding (MOU) signed on February 29, 2024, marking the next phase in their collaboration.

In the upcoming stage, Yara and Petrobras will jointly conduct a thorough analysis to explore potential synergies between their operations. The focus will be on enhancing efficiencies within the local fertilizer and industrial products market, including exploring pathways for decarbonization.

Brazil represents a critical market for both agricultural and industrial applications, with a strong emphasis on fostering domestic production growth and future decarbonization efforts. Yara is committed to addressing food security challenges and advancing decarbonization across the food value chain, industrial applications, air-quality solutions, and zero-emission shipping fuels and energy solutions. Collaboration across the entire value chain will be pivotal for achieving these goals.

Further updates on the progress of this partnership will be communicated to the market in due course.

About Yara

Yara grows knowledge to responsibly feed the world and protect the planet. Supporting our vision of a world without hunger and a planet respected, we pursue a strategy of sustainable value growth, promoting climate-friendly crop nutrition and zero-emission energy solutions. Yara’s ambition is focused on growing a nature positive food future that creates value for our customers, shareholders and society at large and delivers a more sustainable food value chain.

To achieve our ambition, we have taken the lead in developing digital farming tools for precision farming and work closely with partners throughout the food value chain to improve the efficiency and sustainability of food production. Through our focus on clean ammonia production, we aim to enable the hydrogen economy, driving a green transition of shipping, fertilizer production and other energy intensive industries.

Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. We operate an integrated business model with around 17,500 employees and operations in over 60 countries, with a proven track record of strong returns. In 2023, Yara reported revenues of USD 15.5 billion.

www.yara.com

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Tel:+47 24 15 70 00

SOURCE: Yara International ASA