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Abreu e Lima refinery to launch in 2014 – Petrobras CEO

21st March 2013

Brazil’s first new oil processing plant since 1980 to go live in November 2014, key to reduce imports

Abreu e Lima refinery to launch in 2014 – Petrobras CEO
The refinery is expected to process 230,000 bpd of oil and is hailed as the first to to handle 100 per cent of heavy oil in its energy mix

Petrobras’ USD 17.35bn Abreu e Lima refinery project in the state of Pernambuco is expected to go on-stream in November 2014 and go some way toward reducing Brazil's diesel imports, the oil giant’s boss Maria das Graças Silva Foster said on Tuesday.

The state-owned oil company has completed 70 per cent of the refinery project, Foster told analysts during a conference call. The facility is Brazil’s first new oil processing plant in over 30 years.

Petrobras is building the refinery along with its partner Venezuelan state oil company PdVSA, which holds a 40 per cent stake in the project.

The refinery is expected to process 230,000 bpd of oil and is hailed as the first to handle 100 per cent of heavy oil in its energy mix with minimum environmental impacts and a sulphur rate of 10 ppm.

Foster said the refinery will help secure a further 12 months of diesel production and highlighted the importance of the project to Brazil’s energy security. “An increase in refining capacity will reduce our reliance on imports,” she stated.