Brazilian oil company Petrobras has confirmed plans to build a fourth new refinery in addition to two refineries and a petrochemical complex already in the pipeline. Petrobas is conducting studies to build the oil processing plant with a capacity above the average of its existing 11 plants- a 600,000 bpd premium refinery.
Brazil's Petrobras and Venezuela's state oil company, PDVSA, have started work on a 200,000 bpd refinery in the northeastern state of Pernambuco. Petrobras is building the Comperj petrochemical complex to process 150,000 bpd of local heavy crude in Rio de Janeiro state. Petrobras has earlier announced plans for a 600,000 bpd premium refinery to be built by 2014 and produce high-quality oil products, part of which can be exported.