By JEFF FICK
RIO DE JANEIRO -- Brazilian state-run energy giant Petroleo
Brasileiro, or Petrobras, expects to bring the first of its new
refineries on stream in November 2014, the company said
The first processing train of the refinery joint venture with
Venezuela's Petroleo de Venezuela SA, or PdVSA, will be
followed by a second line in May 2015.
The refinery will add 230,000 bpd of
processing capacity, Petrobras said.
Petrobras currently processes about 2 million bpd at 12
refineries, downstream director Jose Carlos Cosenza said during
Petrobras will invest $71.6 billion in its downstream
operations through 2016. The investments are part of the
company's $237 billion spending plan for 2012-2016.
Dow Jones Newswires