Brazil Petrobras mulls JV with GS Energy for Ceara refinery

10 June 2013 23:15  [Source: ICIS news]

HOUSTON (ICIS)--Brazil state energy producer Petrobras may create a joint venture with South Korea based-GS Energy to develop the Premium II refinery in the northeastern state of Ceara, the company said on Monday.

The two companies had signed a letter of intent on 29 May, Petrobras said.

The Premium II refinery is expected to start operations by the beginning of 2018. It will have a capacity of 300,000 bbl/day.

Premium II is among several refineries that Petrobras plans to build.

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.

The Abreu e Lima refinery will be built near Recife. Also known as the Refinaria do Nordeste (RNEST), it will have a processing capacity of 230,000 bbl/day, Petrobras said.

Petrobras also plans to build two refineries at its Comperj project in Rio de Janeiro.

The start up of the first 165,000 bbl/day refining train at Comperj was postponed to 2016. A larger 300,000 bbl/day train is scheduled to start operations by 2018.

Additional reporting by Leela Landress

By: Al Greenwood
+1 713 525 2645

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