Petrobras has received board approval for a $1.2 billion investment to construct a new biofuels facility at the Presidente Bernardes Refinery in Cubatão, Brazil. The project is scheduled to begin construction by the end of 2026 and is designed to produce 15,000 barrels per day of bio-jet fuel and renewable diesel, with operations expected to start in 2030. This initiative is a core component of the company's 2026–2030 Business Plan and aligns with Brazil's Future Fuel Law, aiming to support international aviation standards such as the Carbon Offsetting and Reduction Scheme for International Aviation, or CORSIA, while advancing a broader energy transition strategy.
Petroleo Brasileiro Petrobras SA ADRBoard approves $1.2B investment for new biofuels facility, part of business plan.