Coronavírus: refinarias da Petrobras operam com 60 por cento de capacidade

Coronavirus: Petrobras Refineries Operate at 60 Percent Capacity

Written by Flavia Marinho

Published on 23/04/2020 at 12:11

Updated on 23/04/2020 at 13:44

Coronavírus: refinarias da Petrobras operam com 60 por cento de capacidade

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Coronavirus: In order to address the drop in demand without straining the fuel storage capacity in the country, Petrobras reduced the utilization level of its refineries to 60 percent. Petrobras reported last night (23) that it has 261 employees infected with the coronavirus.

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According to analysts from UBS bank, Petrobras stated that there is no need to stop the refineries due to the drop in demand. “Roberto Castello Branco emphasized that the current level [of utilization] is sufficient to maintain stock balance.”

Petrobras claims that “some refineries are operating at minimum capacity, ensuring the unit operates safely” and that “There are no refineries shut down.”

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To avoid bottlenecking in storage capacity, Petrobras reduced oil production to 2.07 million barrels per day in April. The state-owned company did not disclose the utilization level of its storage infrastructure.

Data from the National Agency of Petroleum, Natural Gas and Biofuels – ANP indicate that Brazil has 2,030 tanks for storing oil, gas, and biofuels. This structure accommodates 34 million barrels of oil and 50 million barrels of derivatives, excluding cooking gas.

Currently, the challenge faced by the oil sector is the high use of capacity to store the product amid a sharp decline in consumption; for instance, in the United States, capacity utilization rose from 46% at the beginning of 2020 to 60% on the 17th.

Last Monday, with no one to sell to and nowhere to store the oil, investors rushed to offload contracts for delivery of the product scheduled for next month, leading to WTI closing down at minus $37.63, which is equivalent to an average of 199 reais per barrel – in practice, buyers paid to not receive the oil.

The 24 percent drop in Brent crude prices on Tuesday (21) reinforces that demand is weak worldwide. Yesterday, prices recovered, rising by 6.3% to $20.56 (111 reais) per barrel. Nevertheless, the situation concerns oil companies, which have already announced a series of measures to face the crisis, such as suspending investments and cutting costs.

Coronavirus: Petrobras Refineries Operate at 60 Percent Capacity

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Coronavirus: Petrobras Refineries Operate at 60 Percent Capacity

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Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

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