Brazil's Petrobras deepens cuts to refinery utilization

Brazilian state-run oil firm Petrobras is cutting its utilization rates at refineries from an already depressed level of 60%, a government official said, as demand for fuel plummets.

In an interview with radio personality José Luiz Datena, Brazilian Mines and Energy Minister Bento Albuquerque said April orders for Petrobras diesel, gasoline and jet fuel had fallen by 50%, 60% and 86%, respectively. Petroleo Brasileiro SA , as the firm is formally known, was further cutting utilization rates as a result, he said.

From the Archive

Comments

Comments

{{ error }}

Add Comment

{{ comment.name }} Editor • {{ comment.dateCreated | date:'short' }}

{{ comment.text }}