Petrobras held a ceremony on July 4, 202 at the Duque de Caxias Refinery (Reduc) to mark the resumption of major investments and studies in the refining and petrochemical sector in Rio de Janeiro. President of the Republic, Luiz Inácio Lula da Silva, and the CEO of Petrobras, Magda Chambriard were present during the ceremony. On the occasion, investments totaling over R$33 billion were announced, with the potential to generate over 38,000 direct and indirect jobs through projects that increase operational efficiency, generate renewable products and promote socioeconomic development. Of the total to be invested, R$29 billion will be contributed by Petrobras and R$4 billion by Braskem , in a project that works in synergy with Petrobras assets.

At the ceremony, Petrobras also announced the production, in the test phase, of fuels with renewable content, such as Diesel R and sustainable aviation fuel (SAF) through co-processing; the expansion of integration between Reduc and the Boaventura Energy Complex; and new studies and projects in the petrochemical area also involving its affiliate Braskem; in addition to investment in professional qualification through the Autonomy and Income Program.

In his speech, President Lula praised the performance and involvement of Petrobras management in important initiatives and reiterated the importance of the company for the country. “Petrobras is a kind of compass for the Brazilian economy. If Petrobras does well, Brazil does well. That is why we have to root for it to become even greater. I am very proud of Petrobras, of the investments we are making, of the return to investing in the shipbuilding industry, because that is what makes a country great,” he said.

“Here in the state of Rio de Janeiro alone, in addition to our investments in exploration and production, we are investing R$33 billion in this megaproject involving Reduc, the Boaventura Complex and Braskem. 38,000 jobs will be created in a location that already has a shortage of welders, boilermakers, electricians, etc. This is full employment in this location. We are training professionals in the Autonomy and Income program. There will be around 3,200 professionals to work in this segment of the industry. We are creating a virtuous circle in the state of Rio de Janeiro with all this investment,” highlighted Magda Chambriard, president of Petrobras.

In the petrochemical sector, investments include the expansion of Braskem's polyethylene plant, which will increase its production capacity by up to 230,000 tons per year. The project, which uses natural gas processed on Route 3 of the Boaventura Complex, is currently in Phase 3 and has a budget of R$4.1 billion (still subject to the necessary approvals by Braskem's governance), and could generate around 7,500 direct and indirect jobs. Petrobras holds 47% of Braskem's voting capital. 

At the Boaventura Energy Complex, new business opportunities include the production of acetic acid and monoethylene glycol – used in the chemical industry in general. Currently in the study phase, the project could make Brazil a producer of inputs that are currently imported.

Another project is the new thermoelectric plant, with two plants of 400 MW each, expected to participate in the next energy auction, taking advantage of synergies with the infrastructure of the Natural Gas Processing Unit (UPGN) in Itaboraí.