Brazil Petrobras may start up new Ceara refinery by 2018

11 July 2012 23:04  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Brazil-based Petrobras expects to start-up its new Premium II refinery in the state of Ceara by 2018, the company said on Wednesday.

The refinery will be in the city of Caucaia, and it will have a capacity of 300,000 bbl/day.

Expected start-up should be either in the end of 2017 or the beginning of 2018, the company said.

Products would include diesel fuel, accounting for 63.5% of production; naphtha at 15.3%; jet fuel at 12.6%; coke at 2.8%; and bunker fuel at 1.6%.

The refinery should help Brazil meet growing fuel demand, which is expected to reach 3.4m bbl/day by 2020, said Petrobras CEO Maria das Gracas Foster.

She talked about the refinery in Rio de Janeiro during a meeting with the governor of Ceara, Cid Gomes.

"Reaching the balance between supply and demand of fuels within the domestic market is a constant pursuit the company has, and to do that, we count on the completion of Premium II", Foster said.

Earlier this week, the company said it should complete the Premium I refinery in Bacabeira, Maranhao, by 2018. The refinery should have a capacity of 600,000 bbl/day.

Diesel fuel should make up 55.8% of production.

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

By: Leo Siqueira
+1 713 525 2600

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