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PBR » Topics » Refinery Production and Capacity

This excerpt taken from the PBR 20-F filed Jun 30, 2005.

Refinery Production and Capacity

 

For 2004, we processed, in Brazil, 623 million barrels of crude oil or 1.7 million barrels per day. Our average refining costs (consisting of variable costs and excluding depreciation and amortization) in Brazil were U.S. $1.36 per barrel in 2004, U.S.$1.17 per barrel in 2003 and U.S.$0.91 per barrel in 2002. Our production in Brazil supplied approximately 76% of this crude oil. Due to the heavier crude characteristic of many Brazilian fields, we have invested in equipment and machinery that allows us to convert heavy crude oil to lighter products. The majority of our heavy crude conversion capacity is located in our largest refineries located near our heavy crude oil reserves in the Campos Basin: Landulpho Alves, Duque de Caxias, Paulínia, Presidente Bernardes, Gabriel Passos and Henrique Lage.

 

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Table of Contents

The following table describes the installed capacity, refining throughput and utilization of our refineries for each of 2004, 2003 and 2002:

 

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