Petrobras refineries run at 98% capacity in October, director says (updated)

Petroleo Brasileiro SA Petrobras

30/10/2026 21:14

Updates with more details of the interview, context in bullets
By Rodrigo Viga Gaier
RIO DE JANEIRO, Oct 30 (Reuters) - Brazilian state-run oil firm Petrobras' PETR3.SA refineries operated at a 98% utilization rate in October, close to the 99% recorded in the third quarter, as it seeks to reduce the need for imports, a director of the company said.
The refineries continue to operate near their maximum capacity, while complying with safety standards, the director of industrial processes and products at Petrobras, William Franca, told Reuters in an interview late Thursday.
Petrobras only carried out "a few minor" necessary shutdowns across the refining system in the period, such as at RNEST refinery, he said
Since the beggining of the war in the Middle East, Petrobras has ramped up oil output to capitalize on higher Brent prices, and hiked refinery operations to cut fuel imports
Petrobras' refinery utilization rate is expected to remain high and close to the operational limit in November and December, according to Franca 
Petrobras will adjust its refining mix in December, he said, hiking gasoline production to meet Brazil's summer demand, and cutting diesel output after the summer planting season
In the first half of 2027, the refinery operation rate is seen falling to around 96% due to scheduled maintenance and expansion works at Replan refinery in March and April, he added

 (Reporting by Rodrigo Viga Gaier in Rio de Janeiro; Writing by Andre Romani; Editing by Kylie Madry)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))