Brazil Petrobras expanding its refining capacity to meet demand

03 April 2013 22:12  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Brazil state-run oil company Petrobras has been investing in the modernisation and expansion of its refineries, the company said on Wednesday, a few days after setting a new one-day refining record on 30 March.

Petrobras refineries processed 2.13m bbl/day of crude oil, 12,000 bbl/day more than in the previous record, which occurred on 3 March, the company said.

According to Petrobras, it invested more than Brazilian reais (R) 28bn ($13.7bn; €10.7bn) in 2012 in expanding the operational efficiency of its refineries, which accounted for 34% of the total investments the company made in that year.

"Within this period, 10 new units began operating in [our] refineries, which made operational improvements ... and the flexibilisation of the production of oil derivatives possible,” Petrobras said in a statement.

As a result, the company increased its processing capacity, adding more than 100,000 bbl/day for the production of derivatives.

The company also is investing in the expansion of its refining capacity as a way to meet domestic demand for oil derivatives.

"Abreu e Lima refinery, in construction in [the state of] Pernambuco in northeast Brazil, and the Train 1 of refining at Comperj in Rio de Janeiro, are the first units to begin operations, representing an addition of almost 400,000 bbl/day in the refining capacity of the company," Petrobras said.

Other projects from the company's 2013-2017 business plan are under evaluation, including Premium I and Premium II refineries and the Train 2 at Comperj, which are "considered important projects to keep the balance between supply and demand of derivatives in Brazil,” Petrobras said.

($1 = €0.78; $1 = R2.02)

By: Leo Siqueira
+1 713 525 2600

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