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Exports Help Brazil’s Petrobras Reach New Record High

Petrobras, the state-controlled Brazilian oil company, hit a record high oil processing level in the country's refineries last year, it was just announced.

A total of 1.784 million barrels per day were processed nationwide in Petrobras refineries in 2006, a 1.5% increase over the amount processed in 2005, which was 1.758 million barrels.

The performance, according to information disclosed by Petrobras, was the result of operational reliability in the production units, and of supply chain management, ranging from raw material flow to the delivery of oil derivatives to customers.

Other contributing factors were the full utilization of the oil conversion units, the development of new markets and export products.

According to the company, the result was achieved while observing the principles of safety, environment and health. The company is making a series of investments in Brazil and abroad. Domestic investments will range from the prospection to the refining of oil.

The company is currently in the final stages of installing its P-54 platform, which should be completed in March this year. According to the Petrobras press office, the P-54 required US$ 900 million in investments.

The platform is one of the world's largest in the floating production, storage and offloading (FPSO) category. It will have capacity for producing 180,000 oil barrels and compressing six million cubic meters of natural gas per day.

The P-54 will be installed in the Roncador field, in Campos Basin, Rio de Janeiro, and will be connected, at 1,400 meter depth, to 21 offshore wells – 13 for oil and gas production, and eight for water injection.

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