LatinNews Daily - 03 December 2025

*Brazil’s state-controlled oil company Petrobras has announced that it will invest R$12bn (US$2.24bn) in expansion and maintenance works for the Refinaria Abreu e Lima (RNEST), an oil refinery in the north-eastern state of Pernambuco which Petrobras has described as its most modern processing facility. The investment will fund the construction of a second ‘train’ (processing unit) in the refinery and maintenance works in the first train. The estimated completion date will be in 2029, when the refinery’s total production capacity is expected to reach 260,000 barrels per day (bdp). Petrobras CEO Magda Chambriard said yesterday that, when the expansion works are complete, RNEST is expected to account for 17% of national diesel production.