Friday, February 11, 2011

Oil: Petrobras Hits New Record Gasoline Production

Oil giant Petrobras, PBR on the NYSE (click for alerts and Technical Analysis), said today that it hit a new record production of gasoline type A in January, with 1.816 billion liters, an increase of 2.36% over the previous mark of 1.774 billion liters, obtained in December 2010.

PBR has the largest ever global IPO last year.

In a press release, Petrobras said that "this record is the result of the company's efforts to supply the Brazilian market without resorting to imports."

To achieve this goal the company has changed the operating conditions of its process units and has optimized mixtures of naphtha. Gasoline was the fuel processed by the com[any that had the largest increase over the previous year, about 15%, driven mainly by economic growth and the high price of ethanol.

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