Brazilian state-run oil company Petrobras said on Monday that the contract for the sale of its LUBNOR refinery in northeastern Brazil has been terminated after unespecified conditions required for the deal to go through were not met.

Petrobras had agreed to sell LUBNOR, which is capable of processing 8,200 barrels of oil per day, to Grepar for $34 million last year. The oil giant sait it is committed to maintain LUBNOR's operations following the failed deal. (Reporting by Gabriel Araujo; Editing by Steven Grattan)