*Brazil’s state-controlled oil company Petrobras has announced funding for a fertiliser production plant and other facilities in Paraná state. The oil giant will invest R$870m (US$159m) to re-open a fertiliser plant near the state capital Curitiba which is operated by Petrobras subsidiary Araucária Nitrogenados (Ansa). The Ansa plant was shut down in 2020 but production is due to start again in 2025. According to a Petrobras press release, the facility has the capacity to produce 720,000 tonnes of urea per year, accounting for 8% of the domestic market. The fertiliser plant is near the Refinaria Presidente Getúlio Vargas (Repar), a larger industrial complex owned by Petrobras which accounts for 15% of Brazil’s total production of oil derivatives. Petrobras also announced yesterday that it would invest R$3.2bn from 2024-2028 to carry out maintenance works and build new production units in Repar.
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LatinNews Daily - 16 August 2024
In brief: Brazil’s Petrobras boosts investment in fertiliser production
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