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Petrobras Looks To Add Refining Capacity To Meet Brazil Needs

Petrobras Looks To Add Refining Capacity To Meet Brazil Needs
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Πεμ, 23 Ιουνίου 2011 - 17:40
Brazilian state-run oil company Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, will continue looking to add refining capacity to meet the fast-growing nation's fuel product needs, Downstream Director Paolo Roberto Costa said Thursday.
Brazilian state-run oil company Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, will continue looking to add refining capacity to meet the fast-growing nation's fuel product needs, Downstream Director Paolo Roberto Costa said Thursday.

"We have refining capacity of 1.9 million barrels a day but our market today is about 2 million barrels a day and last year GDP increased 7.5% and demand for the big products, like jetfuel, gasoline and diesel increased on average 10%," said Costa, explaining that Petrobras expected this differential to widen.
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