Petrobras Buys Out Partners for $107 Million to Take Full Control of Ethanol Pipeline Network
Petrobras has signed a deal to acquire the remaining 70% of Logum Logística for $107 million, buying out shares held by NYSE-listed Raízen and others.
The global transition toward low-carbon fuels is reshaping the infrastructure assets held by some of the world's largest energy companies. On November 12, 2026, Brazilian state-controlled oil giant Petróleo Brasileiro S.A., widely known as Petrobras, announced a major consolidation of its domestic logistics footprint. The company has agreed to buy out its partners to take 100% control of Brazil's primary ethanol pipeline network.
In a regulatory filing released on November 12, 2026, Petrobras confirmed it signed an agreement to acquire the remaining 70% stake in Logum Logística S.A. for R$ 620 million (approximately $107 million). Prior to the agreement, Petrobras held a 30% minority stake in the logistics operator. The remaining 70% was split among sugarcane and ethanol giant Raízen Energia S.A. (30%), agricultural cooperative Copersucar S.A. (30%), and logistics firm Uniduto Logística S.A. (10%).
The acquisition hands Petrobras full ownership of a highly strategic, 1,000-kilometer (620-mile) pipeline system. The network connects the massive agricultural hubs of Brazil's Midwest and Southeast—increasingly dominated by booming corn-ethanol production—directly to key distribution centers in São Paulo and Rio de Janeiro, as well as the Ilha d'Água maritime export terminal. During the 2025–2026 harvest season, Logum's network transported approximately 5 million cubic meters of biofuels.
Strategic Shift to Low-Carbon Logistics
For Petrobras, the transaction is a direct execution of its long-term strategic plan, which emphasizes expanding its low-carbon footprint and renewable energy logistics. Moving ethanol through pipelines is significantly more efficient and environmentally friendly than trucking. Petrobras noted in its November 12, 2026 statement that transporting 1 million cubic meters of fuel via pipeline instead of highways removes roughly 80 cargo trucks per day from Brazil's congested roads.
The financial structure of the deal is spread over two years to manage cash flow. Petrobras will pay R$ 300 million at the closing of the transaction, followed by R$ 160 million after 12 months, and a final R$ 160 million after 24 months. The transaction is still subject to regulatory approval by Brazil's antitrust authority, the Administrative Council for Economic Defense (CADE).
For the sellers, particularly the major ethanol producers, the divestment frees up capital while leaving their primary transport corridor in the hands of the country's dominant logistics operator.
In your brokerage app
If you hold shares of Raízen S.A., which is listed in New York, this transaction directly impacts its balance sheet by liquidating its 30% non-controlling stake in Logum for approximately R$ 265 million ($46 million). Meanwhile, investors holding Petrobras (listed in New York as Petróleo Brasileiro S.A.) will see the state-backed oil major fully integrate this pipeline network into its broader logistics system, aiming for operational synergies and direct exposure to Brazil's expanding corn-ethanol export market.
