Petrobras reached an average of 88% total load factor (FUT) for its refineries in the last three months of 2021. In early February 2022, it reached close to 90%. Operational decisions in refining take into account that, for each barrel of oil processed in the refinery, several products are generated and subsequently distributed.
As an example of this, when producing diesel, fuel oil is also produced, which needs to be drained and distributed 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 behaviour; costs; and prices. In other words, any increase in refinery load.
“Defining the level of use of refineries is complex because it involves different products and must be based on technical-economic criteria. Petrobras is investing in its refineries and the market has grown and demanded more fuel from the company, which results in a use above the historical average”, explains Rodrigo Costa, Director of Refining and Natural Gas at Petrobras.
The presence of new investors, such as Mubadala Capital, which acquired the Landulpho Alves Refinery, in Bahia, Brazil, reinforces the investment capacity and the service of a growing and increasingly dynamic market, in which Petrobras is one of the actors along with several others. The maintenance of pricing that is in line with global markets is fundamental for the proper functioning of the fuel market in Brazil.
Read the article online at: https://www.hydrocarbonengineering.com/refining/09022022/petrobras-records-88-usage-of-refinery-capacity-in-2021/
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