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Petrobras Refinery Utilization to Highest Since 2014

REFINING

The average utilization rate at the 12 Petrobras refineries in Brazil rose to the highest since August 2014 at 92% in August according to Bloomberg based on regulatory data.

  • The utilization rate rose from 88.2% in July and with the highest oil processing since Nov 2021 at 1.794mb/d compared to installed capacity of 1.949mb/d.
  • Rates may fall in coming months amid turnarounds impacting diesel production at the 151kb/d Regap refinery and to units at the Reduc refinery.

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