Brazil's Petrobras to create 'biorefinery,' powered by $960-MM investment
2/24/2025 10:00:00 AM
Brazil's state-run oil company Petrobras will invest around 5.5 B reais ($960 MM) to turn its Riograndense refinery into the country's first biorefinery, Chief Executive Magda Chambriard said on Monday.
The facility, located in Rio Grande do Sul state, is set to become Brazil's first refinery that does not use petroleum, the Petrobras chief said without specifying a timeline for when it will come online. It will eventually produce what Chambriard described as 100% renewable jet fuel and diesel.
($1 = 5.7312 reais)
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