22 January 2010 19:28 [Source: ICIS news]
HOUSTON (ICIS news)--Brazil’s Petrobras did not immediately comment on Friday in regards to an earlier announcement about receiving environmental permits to begin building what will be the nation's largest oil refinery.
The $20bn (€14.2bn) refinery will be in the northeastern state of Maranhao. It will produce petroleum products including naphtha, jet fuel and diesel oil, which it hopes to export to Japan, according to reports.
The refinery will have a 300,000 bbl/day capacity upon start-up in 2013, but will be expanded to 600,000 bbl/day by 2015, Petrobras said.
Japanese firm Marubeni is expected to invest in the project, with its stake to be determined at a later date.
($1 = €0.71)
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