Petrobras clarifies about pieces of news in the media on cuts in fuel orders fulfillment

Petróleo Brasileiro S.A. – Petrobras clarifies about pieces of news in the media regarding cuts in fuel orders fulfillment. As disclosed in the 2Q21 Production and Sales Report, the company operated its refining facilities in the first half of 2021 with a utilization factor (UF) of 79%, in line with the 2020 average and higher than that recorded in 2019 (77%) and 2018 (76%), even considering the scheduled stoppages at the REDUC, RPBC, REGAP, RLAM, REPAR and REVAP refineries, which were postponed from 2020 to 2021 due to the pandemic. As of October 2021, the Company is operating with a FUT of 90%.

In recent years Petrobras has made investments in its refining park to increase its capacity to economically process the heavier Brazilian crude oil, improve the quality of the product to meet stricter regulatory standards, modernize refineries and reduce the environmental impact of its refining operations.

Petrobras also clarifies that, in recent years, the Brazilian diesel market has been supplied both by its production and by imports carried out by distributors, third parties and by the Company, which ensured that domestic demand was fully met. For the month of November, Petrobras received orders well above the previous months and its production capacity. Only long in advance would Petrobras be able to plan itself to meet this atypical demand. Compared to November 2019, distributors’ demand for diesel increased by 20% and for gasoline by 10%, representing more than 100% of the Brazilian market. Petrobras continues to comply with the contracts with the Distributors, in accordance with the terms and deadlines in effect and its capacity. In addition, the Company is maximizing its production and deliveries, operating with high utilization of its refineries.

Facts deemed relevant on the subject will be timely disclosed to the market.

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