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PBR » Topics » Upgrade our refineries to increase their ability to process heavier domestic crude production while at the same time fulfilling a growing percentage of the current demands of the Brazilian market and meeting stricter quality standards.

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

Upgrade our refineries to increase their ability to process heavier domestic crude production while at the same time fulfilling a growing percentage of the current demands of the Brazilian market and meeting stricter quality standards.

 

Our refineries were originally constructed to process light imported crude oil, whereas our current reserves and production increasingly consist of heavier crude oil. We plan to improve and adapt our refineries to better process our domestic production of heavier crude oil by continuing to:

 

  •   invest in our refineries to allow them to process greater volumes of heavier domestic crude oil, thereby reducing the amount of crude oil we have to import to meet demand;

 

  •   invest in our refineries to produce the light and middle distillate products that are of higher value and greater demand in the Brazilian market;

 

  •   upgrade the technology of our refining operations to increase efficiency;

 

  •   improve the interconnection between our domestic and international activities to improve operating efficiencies; and

 

  •   invest in our refineries to produce distillate products that meet international quality standards.

 

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