Petrobras to Invest $3.6 Billion in Brazil Complex, CEO Says [BNN Bloomberg (Canada)]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: BNN Bloomberg
Petrobras will invest 13 billion reais in coming years on a plant that will produce derivatives in Itaborai and another 7 billion reais on a refinery near the complex, CEO Magda Chambriard said. Work on those projects will start in 2025, she said. Chambriard spoke at an event commemorating its Rota 3 project, which has the capacity to transport as much as 18 million cubic meters of natural gas per day and process 21 million cubic meters, increasing supply to the domestic market and reducing dependence on imports. Commercial operations of the processing plant – the biggest in Brazil - are scheduled to begin in October. The new gas line has been delayed for years, forcing Petrobras to pay higher prices for the fuel from Bolivia. It also had to vie with European buyers for seaborne cargoes when Russia's invasion of Ukraine upended the global market. It was the second Petrobras inauguration under Chambriard, who took the helm of the company in May with a mandate to speed up investm
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