Petrobras Bets $1.2 Billion on Jet Fuel Made From Plants

Petrobras is committing more than $1.2 billion to build a renewable biorefining plant designed to produce jet fuel and diesel from crops and waste, marking a shift for Brazil’s state oil company. According to Petrobras filings dated June 19, the board approved a final investment decision for a dedicated biorefining unit at the Presidente Bernardes refinery in Cubatão, in São Paulo state. Construction is planned to start by the end of the year, with production targeted at up to 15,000 barrels per day of two fuels: renewable diesel and bio-jet fuel. Both are intended to be usable in existing engines and aircraft without modifications, using sources such as vegetable oils and waste fats. Petrobras does not expect start-up until 2030, aligning with the project timeline and contract-signing phase. The move reflects global airline carbon-offset requirements and Brazil’s 2024 Future Fuel Law mandating a growing share of sustainable fuel in the mix.