The board of the Brazilian state-led oil company has set new guidelines for strategic planning and approved investments in fertilizers, petrochemicals, and refining. The goal is to decrease fuel and fertilizer imports in order to achieve self-sufficiency. The nation’s natural gas supply will be Petrobras’ top goal, which is another important strategic objective. In order to encourage the use of this input in the Brazilian industry and reduce production costs, the decision is in line with the Gás para Empregar (Gas to Employ) project. Refineries have an impact on fertilizer prices on a national level since inputs from this sector are used as raw materials to create fertilizers.
Sources: CNN Brasil/Global Fert (*Translated by Ia Niani)