Petróleo Brasileiro S.A. (PETROBRAS), a Brazilian international energy company, has an agreement with the state-owned company Petróleos de Venezuela S.A. (PDVSA). The companies will construc..
Petróleo Brasileiro S.A. (PETROBRAS), a Brazilian international energy company, has an agreement with the state-owned company Petróleos de Venezuela S.A. (PDVSA). The companies will construct a refinery in the Northeast of Brazil in Pernambuco. Each company would participate 50% and it would have the capacity to process 200,000 bpd of heavy oil, half for Petrobras and half for PDVSA.
This is claimed to be the first project involving new refinery construction approved by the Petrobras executive board since the Vale do Paraíba refinery (REVAP) in 1979. The projected investment is $2.5 billion (50% from each company). The goals for the refinery will be to maximize diesel
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