December 10, 2019 / 8:48 PM / 2 months ago

Brazil's Petrobras mulls new $400 mln lubricant plant

SAO PAULO, Dec 10 (Reuters) - Brazil’s state-controlled oil company Petrobras SA is mulling construction of a new lubricant plant that could quadruple its production capacity by 2022, the company’s refining chief said on Tuesday.

Anelise Lara, Petrobras’ refining and natural gas chief, told Reuters the company will invest about $400 million to build the new plant in the Comperj refinery, raising its lubricant production capacity to 225,00 cubic meters.

The new Comperj plant will use raw materials from another refinery, Reduc, she added. Both refineries, located in the state of Rio de Janeiro, will be linked by a pipeline.

When the Comperj plant is concluded, Petrobras plans to shut down its lubricant production unit at Reduc.

Lara said the new plant will produce more sustainable and high-quality lubricants, also reducing imports. (Reporting by Carolina Mandl; Editing by Dan Grebler)

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