Petrobras will invest US$2.14 billion (about R$37 billion) in the Brazilian state of São Paulo through 2030 across refining, exploration, logistics, and low-carbon energy projects, the company announced on May 18 during a visit by Brazilian President Luiz Inácio Lula da Silva to the Paulínia Refinery (Replan).
According to Petrobras President Magda Chambriard, part of the funding, about US$1.1 billion (R$6 billion), will go toward expanding Replan, the company’s largest refinery, which supplies more than 30% of Brazil’s territory.
“São Paulo’s refineries are responsible for 50% of Petrobras’ fuel production, and four cities in São Paulo are among the ten largest recipients of Petrobras tax revenues, precisely those that host our refineries. All of this generates jobs and income directly and indirectly,” Chambriard said.
Petrobras said Replan’s processing capacity is expected to rise from 434,000 barrels per day (b/d) to 459,000 by 2027, increasing output by about 5%.
Petrobras credits stronger Brent prices, fuel sales for first-quarter performance | OilNOW
The company also highlighted energy transition investments planned for São Paulo, including upgrades to produce sustainable aviation fuel (SAF) through co-processing waste, animal fats and vegetable oils. Petrobras expects that unit to begin operating by the end of 2026.
Additionally, Petrobras is developing an alcohol-to-jet (ATJ) plant to produce sustainable aviation fuel using ethanol after 2030. It is also installing a solar photovoltaic plant to supply refinery operations, with startup expected in December 2026.
In refining and infrastructure, upgrades are planned at the RPBC refinery in Cubatão, the Revap refinery in São José dos Campos, and the Recap refinery in Mauá. The company also plans to build the OBAPI fuel pipeline across 13 municipalities in São Paulo state and expand capacity at the Santos Waterway Terminal to improve fuel transport and storage.
The investments are expected to generate around 38,000 direct and indirect jobs.
Petrobras expanding local content expectations beyond formal mandates – Rystad Energy | OilNOW
“The investments will strengthen the company’s presence in the state, with emphasis on innovative projects in refining, biorefining, exploration and production (E&P), decarbonization, and sustainable energy generation,” Petrobras said.
