Petrobras is launching the binding phase of the sale of four refineries out of eight that it has earmarked for divestment, the Brazilian state-held energy firm said in a statement. The potential buyers that had qualified for the binding phase will receive a letter with details on the divestment process, including guidance for due diligence and filing of binding proposals, Petrobras said. In late April, Petrobras approved the sale of eight refineries as part of its divestment plan. In May, the energy firm struck a deal with the Brazilian antitrust regulator that will allow it to sell those downstream assets in a bid, the company said, to encourage greater competition in the industry. The four refineries in the this first binding phase are RNEST in Pernambuco state with a processing capacity of 130,000 bpd, or 5 percent of Brazil’s total oil refining capacity; RLAM in the state of Bahia […]