SOURCE: Industrial Info Resources

July 09, 2008 07:30 ET

Ipiranga Refinery in Brazil Reduces Processing Capacity, an Industrial Info News Alert

CORDOBA, ARGENTINA--(Marketwire - July 9, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- In the first weekend of July, the Ipiranga refinery in Rio Grande do Sul, Brazil, began to decrease the refinery's processing capacity. The decision was made by refinery's directors, who cited the high price of crude oil costs they have been facing for a while. In Brazil, the price of derivate products, such as diesel, naphtha, liquefied petroleum gas and fuel oil, are not keeping pace with the increasing price of crude oil, making it unprofitable for the Ipiranga refinery to commercialize derivate products. The refinery will only be able to sell petrochemical naphtha. Petrobras (NYSE:PBR), Ultra Petroleum Corporation (NYSE:UPL) (Houston, Texas) and Braskem S.A. (Camacari, Brazil) purchased Ipiranga assets in March 2007 and are in the process of deciding who will be in charge of the refinery.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=135259, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information, send inquiries to refininggroup@industrialinfo.com or visit us online at www.industriali nfo.com.

Related News Articles

Ipiranga Refinery to Restart Standby Fluid Catalytic Cracker

Overhaul Planned at Ipiranga Refinery in Brazil

Brazilian Refinery Maintenance Shutdowns Rescheduled Because of November Explosion

Contact Information

  • Contact:
    Joe Govreau
    713-783-5147