July 10, 2024

Yara and Petrobras Sign Master Agreement

Yara Brasil Fertilizantes S.A. (Yara) and Petróleo Brasileiro S.A. - Petrobras have signed a non-binding Master Agreement, as next step forward in the negotiations to structure a potential business partnership, following the Memorandum of Understandings (MOU) signed on February 29, 2024.

In the next phase Yara and Petrobras will jointly finalize the analysis on the potential synergies between their operations, to increase efficiencies in the local fertilizer and industrial products market, including possible decarbonization paths.

Brazil is a significant market for both agricultural and industrial applications with focus on domestic production growth and future decarbonization. Yara is playing a leading role in tackling the food crisis and is committed to decarbonizing the food value chain, essential industrial and air-quality applications, and zero-emission shipping fuel and energy solutions. To be successful, collaboration across the entire value chain is essential.

Relevant updates will be shared with 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.