Petrobras' Board of Directors has approved the Final Investment Decision for the RPBC Biorefining project. The project involves a specialized facility at the Presidente Bernardes Refinery in Cubatão for producing renewable diesel and bio-jet fuel, with an estimated capital outlay of around US$1.2 billion. Construction is expected to begin near the end of this year, and the plant is scheduled to launch in 2030 with a production capacity of up to 15,000 barrels per day. The initiative aligns with Brazil's Future Fuel Law and international aviation carbon offsetting regulations.
Petroleo Brasileiro Petrobras SA ADRBoard approves $1.2B investment in biorefining project, a major capital allocation decision.