Brazil’s Petrobras ends month with refinery usage at 91%

Rio de Janeiro – Brazilian oil company Petrobras reported this Monday (4) it reached 91% of the total capacity of its refining parks in the last week of March 2022. The average load considering the whole month was 89%. According to the company, in 2021, Petrobras' refineries' average utilization level was 83%, the highest in the last five years.

“The total refining utilization factor considers the volume of oil load processed and the reference load of the refineries, that is, the maximum capacity to operate, respecting the equipment design limits, safety and environmental requirements, and the quality of the derivatives produced, in addition to the economic rationality of production decisions, with a focus on value generation,” informed the company.

“The definition of the level of use is a technical and economic decision, which considers the demand of Petrobras' customers, global alternatives for supply and prices of oil and derivatives , different configurations and operating limits, and the need for maintenance stoppages, among other factors. Petrobras is producing as much as possible under safe, sustainable, and cost-effective conditions,” said Rodrigo Costa, director of Refining and Natural Gas of Petrobras.

Petrobras also informed it would invest USD 6.1 billion in refining over the next five years to expand capacity, generate higher quality products, and position its refineries among the best in the world in terms of efficiency and operational performance.

Translated by Elúsio Brasileiro

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