Brazil Petrobras sets June '13 start-up for Abreu e Lima refinery

16 February 2012 20:14  [Source: ICIS news]

HOUSTON (ICIS)--Brazil-based Petrobras plans a June 2013 start-up date for the first stage of its Abreu e Lima refinery near Recife, the company said on Thursday.

The second stage should start operations in January 2014, the company said.

The refinery, also known as the Refinaria do Nordeste (RNEST), will have a processing capacity of 230,000 bbl/day, Petrobras said.

Petrobras had planned to develop the refinery with Petroleos de Venezuela (PDVSA). PDVSA would own a 40% stake in the project.

However, PDVSA has been unable to secure a $10bn (€7.7bn) loan to pay for the stake. Earlier this year, it missed another deadline to secure the loan.

Petrobras has given PDVSA up to a year to secure the loan, according to a report from Reuters.

With or without PDVSA, Petrobras said it would complete the project.

The Abreu e Lima refinery is among several that Petrobras could build in Brazil.

Operations should start in September 2014 at the first phase of a new refinery at the Complexo Petroquimico do Rio de Janeiro (Comperj). That refinery could have a processing capacity of 230,000 bbl/day.

A second phase at the complex should start operations in 2018, bringing Comperj's processing capacity to 330,000 bbl/day.

Petrobras is in the planning stage for two more refinery complexes.

Premium I would be built in two stages in the state of Maranhao, Petrobras said. Each stage would have a processing capacity of 300,000 bbl/day.

Premium II in the state of Ceara would also have a processing capacity of 300,000 bbl/day, the company said.

The projects come as Petrobras expects that it will import more gasoline in 2012 because of rising demand.

($1 = €0.77)


By: Al Greenwood
+1 713 525 2645



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