Brazil is self-sufficient but imports oil because it doesn’t build refineries

This need is caused by the low processing capacity of the refineries installed in the country. The amount refined has remained stagnant at around 2.3 million barrels since 2015, amid falling investments in the sector.

RIO DE JANEIRO, BRAZIL - Brazil is self-sufficient in petroleum: it produces a daily average of 3 million barrels of oil, a volume more than sufficient to supply domestic consumption, 2.5 million barrels per day. But it still needs to import oil and derivatives, such as gasoline and diesel. Why does this happen?

This need is caused by the low processing capacity of the refineries installed in the country. The amount refined has remained stagnant at around 2.3 million barrels since 2015, amid falling investments in the sector.

According to projections by the government-linked Energy Research Company . . .

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