LatinNews Daily - 02 April 2026

*The CEO of Brazil’s state oil company Petrobras, Magda Chambriard, has said that the oil giant is considering the possibility of revising its business and investment plan to set an objective for Brazil to be self-sufficient in diesel production within five years. According to Petrobras’ current plans, the company is ideally aiming to boost diesel production by 300,000 barrels per day (bdp) within five years, which would meet 80% of national demand, but Chambriard said that under an updated plan, expected to be released later this year, the new target could be to meet 100% of national demand. Reports in the media have highlighted that Brazil imports around 30% of its diesel, but the ongoing conflict in the Middle East and the resulting oil price shocks appear to be motivating efforts by Brazilian firms to reduce dependency on fuel imports. In order to boost national diesel production, Chambriard pointed to several processing facilities in Brazil that have planned expansion works, such as the Abreu e Lima refinery (RNEST) in Pernambuco state and the Duque de Caxias refinery (Reduc) in Rio de Janeiro state.

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