Brazilian refinery’s start-up delayed until November

11 June 2013 22:18  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Brazil state-run oil producer Petrobras has delayed the start-up of its Abreu e Lima refinery to November of this year, the company said on Wednesday.

The first train of the refinery, which is located in the state of Pernambuco, should be complete by November and the second by May 2015, the company said.

The refinery originally was scheduled for start-up in June of this year.

"A lot of factors contribute for variations in the deadline [of the project] such as technical contingencies, strikes, urban and environmental conditionings, bad weather, among other [things]," Petrobras said in a statement.

Petrobras and Petroleos de Venezuela (PDVSA) had talked about partnering on the Abreu e Lima refinery project, but Petrobras halted those talks following political instability in Venezuela.

PDVSA is to have a 40% stake in the project. However, PDVSA has been unable to secure a $10bn (€7.5bn) loan to pay for the stake.

Petrobras said it could develop the refinery alone if PDVSA leaves the project.

($1 = €0.75)


By: Leo Siqueira
+1 713 525 2600



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