Petrobras board approved a US$1.2 billion investment on Friday to produce renewable fuels at the Cubatão refinery in São Paulo state.
The project includes a plant with capacity for up to 15,000 barrels per day of BioQAV and renewable diesel. Operations are scheduled to start in 2030, with construction planned to begin later this year.
The decision is part of the company's 2026-2030 business plan, which has a total budget of US$109 billion. Of that amount, US$4.8 billion will go to bioproducts.
The company said the project supports a fair energy transition and global aviation sector goals. BioQAV will help meet the Combustível do Futuro program for decarbonizing Brazilian air transport.
