Brazil’s Petrobras sets record for preventive maintenance shutdown investment in 2021

The amount represents an increase of over 50% compared to 2020 and over 20% compared to the previous record set in 2019, the company said.

RIO DE JANEIRO, BRAZIL - Petrobras (PETR3; PETR4) set a record for investments in preventive maintenance shutdowns in its refining park in 2021, with spending of R$2.3 billion (US$423 million).

Despite several scheduled maintenance stoppages, Petrobras reached an average of 83% of total utilization factor of its refineries in 2021, the highest rate in the last 5 years, illustrating the efficiency gains in the management of its units.

The state-owned company is in the process of selling part of its refinery park. Of the 8 units put up for sale in 2019, 3 have been sold: Rlam . . .

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