Petrobras ends March with refinery utilization at 91%

(PB) Company is producing as much as possible under safe, sustainable and economic conditions

Petrobras reached 91% of total load factor of the refining park in the last week of March 2022. The average load factor considering the whole month was 89%. In 2021, the average level of utilization of Petrobras refineries was 83%, the highest rate in the last 5 years. The total refining utilization factor considers the volume of oil cargo actually processed and the refinery’s reference load, that is, the maximum capacity to operate, respecting the equipment design limits, safety, environmental and environmental requirements. quality of the derivatives produced, in addition to the economic rationality of production decisions, with a focus on value creation.

“The definition of the level of use is a technical and economic decision, which takes into account the demand of Petrobras customers, the global alternatives for supply and prices of oil and derivatives, different configurations and operating limits and the need for maintenance stoppages. refining units, among other factors. Petrobras is producing as much as possible under safe, sustainable and economic conditions”, highlights Rodrigo Costa, director of Refining and Natural Gas at Petrobras.

For each barrel of oil processed at the refinery, necessarily, several derivatives are generated and subsequently distributed. For example, when making gasoline, fuel oil is also necessarily produced, which needs to be drained and delivered to end customers. Therefore, the calculation of the best level of processing always respects, in addition to economic and safety criteria, the technical limitations of product distribution capacity, possible volumes to be stocked, demand behavior, costs and prices. This dynamic applies not only to Petrobras refineries, but to the entire global refining industry.

Petrobras has highly complex mathematical models that can process thousands of variables at the same time and, in this way, indicate the best way to serve the company’s customers, taking into account the different types of oil available, the characteristics of the refineries and the Petrobras logistics assets.

In recent years, the company has made investments in its park to increase the capacity to economically process the heaviest Brazilian crude oil, improve the quality of derivatives to meet stricter regulatory standards, modernize refineries and reduce the environmental impact of its refining. Petrobras will also invest US$ 6.1 billion in Refining over the next five years, with the objective of expanding refining capacity, generating higher quality products and positioning its refineries among the best in the world in terms of efficiency and operational performance. .

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