Brazil Petrobras to target nitrogen fertilizers – CEO

SAO PAULO (ICIS news)–Brazil’s state-controlled oil company Petrobras will focus its fertilizer production on nitrogen products, which use natural gas as feedstock, the CEO said on Monday. 

“Our focus on nitrogen [fertilizers] makes sense because this type of product uses natural gas as feedstock,” said CEO Jose Sergio Gabrielli in Portuguese.

Analysts had said earlier that the oil giant would focus its production on fertilizers that used natural gas due to company’s adequate production and supply of the raw material.

Regarding the company’s interest in potassium and phosphate products, Gabrielli said Petrobras is specifically studying potassium sources in the Amazon region, but did not offer further details.  

Petrobras added that it would invest in four new plants to increase domestic output of urea and ammonia, but did not offer investment or volume details.

CEO Gabrielli spoke at the International Security, Environment and Health Conference in Rio de Janeiro.

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