10 July 2012 23:25 [Source: ICIS news]
CAMPINAS, Brazil (ICIS)--Construction of a 600,000 bbl/day refinery in Brazil is essential for the country to meet its growing fuel demand, the head of Petrobras said on Tuesday.
Chief executive Maria das Gracas Silva Foster talked about the planned Premium I refinery in the city of Bacabeira, Maranhao, during a meeting with Maranhao governor Roseana Sarney.
"We seek the balance between the supply and demand of derivatives, and to do this the construction of the Maranhao refinery is fundamental", said Foster.
Foster said Petrobras’s 2012-2016 business plan includes resources to implement the project.
Foster said the refinery is important for the company, adding that Petrobras believes in the viability of the project.
According to Petrobras, Premium I refinery project is expected to be completed by 2018.
The project includes two independent refining trains, each processing 300,000 bbl/day, the company said.
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