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Petrobas ends 2021 with 88% use of refinery capacity

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Petrobras has reached an average of 88% of total load factor of its refineries in the last three months of last year.
In early February, the Brazil oil and gas major reached close to 90%.
Operational decisions in refining take into account that, for each barrel of oil processed in the refinery, necessarily, several products are generated and subsequently distributed.
For example, when producing diesel, fuel oil is also necessarily produced, which needs to be drained and distributed to end customers.
Therefore, the calculation of the best level of processing always respects, in addition to economic and safety criteria, the technical limitations of product distribution capacity, possible volumes to be stocked, demand behaviour, costs and prices.
“Defining the level of use of refineries is complex because it involves different products and must be based on technical-economic criteria. Petrobras is investing in its refineries and the market has grown and demanded more fuel from the company, which results in a use above the historical average”, explains Rodrigo Costa, director of refining and natural gas at Petrobras.
The presence of new investors, such as Mubadala Capital, which acquired the Landulpho Alves Refinery, in Bahia, reinforced the investment capacity and the service of a growing and increasingly dynamic market, the company concluded.