Petrobras closes October with refineries at 98% utilization and targets fewer imports

Petrobras (PETR4) ended October with a utilization factor of 98% in its refineries, a high level that, according to Money Times, shows a refining park operating close to maximum capacity. The information was given by William França, director of Industrial Processes and Products at the state-owned company, in a conversation with Reuters.

The utilization factor measures how much of the units' processing capacity is in use. According to the report, the objective of keeping this index high is to reduce the need for imports, a point that is directly relevant to the country's fuel supply balance.

The period was also not an isolated episode. In the third quarter, the factor was around 99%, according to Money Times, which indicates a sustained operation at a high level over months.

According to França, the operation followed safety standards and did not compromise workers. The executive also stated that October had small and necessary stops in the refining park, citing Rnest, but no major stops.

What is at stake is the combination of processed volume and operational discipline. The company wants to operate close to the limit of capacity without resorting to major interruptions and without compromising on safety, two conditions that usually weigh on the evaluation of those who follow the company.

What changes for the investor

For those who follow the action, the data suggests that the company's refineries are being used almost at their limit, which could mean greater volume processed and less dependence on imports, if the objective is confirmed. It is worth observing, in the next results, how this level of use appears in the company's numbers and whether the small stops recorded in October are repeated. The available information does not provide data on prices, margins or financial impact, so the effect on the price cannot be estimated.

Automatically translated from Portuguese.