18 09-2008 Paulo Roberto Costa na Rio Oil and Gas Expo Conference no Rio de Janeiro (somente em inglês)

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18 09-2008 Paulo Roberto Costa na Rio Oil and Gas Expo Conference no Rio de Janeiro (somente em inglês)

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  • 1. Petrochemical and Refining Integration - Petrobras Panorama Paulo Roberto Costa Downstream Director Downstream Director 1
  • 2. Agenda :: Strategic Plan - 2020 :: Strategic Plan - 2020 :: Refining Investments :: Refining Investments :: Petrochemical Industry :: Petrochemical Industry :: Petrochemical-Refining Integration :: Petrochemical-Refining Integration :: Petrochemical Investments :: Petrochemical Investments :: Conclusions :: Conclusions 2
  • 3. Petrobras – An Energy Integrated Company • Proven reserves : 11.7 Billion boe (not including the Tupi, Jupiter, Carioca, Exploration and Exploration and Iara and Bem-Te-Vi discoveries) Production Production • Oil and gas production: 2.065 millions boe/d (SEC 2007) Refining, • 16 Refineries – Brazil (12); Argentina (2); USA (1); Japan (1) Refining, • Capacity: 2269 thousand bpd Transportation Transportation • Oil and gas pipelines: 11,000 km and Marketing and Marketing • Ships (own fleet): 54 • Over 7,000 service stations, constituting the largest and the unique station network spread throughout brazilian territory. Distribution Distribution • Over 10,000 clients among industries, thermoelectric companies, airlines and vehicle fleets. • Gas Sales: 50 millions of m³/day (brazilian production and imports) Natural Gas Natural Gas • 15 Thermoelectric plants – 5,300 MW installed Energy Energy • 15 Small hydroelectric plants and 12 Thermal plants – under Generation Generation construction – 1,800 MW • Petrobras has relevant shares of the two main brazilian petrochemical companies, Quattor (40%) and Braskem (30%). These two companies run 27 petrochemical plants, Petrochemical Petrochemical producing basic petrochemicals and plastic resins. • The fertilizers plants, located at Bahia and Sergipe states, produced together, during and Fertilizers and Fertilizers 2007 campaign, 235,000 t of ammonia and 824,000 t of urea, most of them to Brazilian market.
  • 4. Petrobras – Company’s Integrated Activities
  • 5. Strategic Plan - 2020 5
  • 6. Business Segment Strategy - 2020 Corporate Strategy Corporate Strategy
  • 7. Investment Plan by Business Segment PETROBRAS 2008-12 Period US$ 112,4 bi DOWNSTREAM 2008-12 Period US$ 31,4 bi 13% 3% 4,2 1,1 26,1 RTC 84% Petroquímica Biocombustível
  • 8. Supply Challenges
  • 9. Refining Investments 9
  • 10. Current Refining Infrastructure in Brazil Refining Capacity (Thousand barrels/day) REMAN 46 LUBNOR 6 RLAM 323 REGAP 151 REDUC 242 REVAP 251 RECAP 53 REPLAN 365 RPBC 170 REPAR 189 REFAP 189 RPI 15 TOTAL BRAZIL 2,000 ARGENTINA 69 USA 100 JAPAN 100 TOTAL PETROBRAS 2,269
  • 11. Refining New Projects PREMIUM I PREMIUM II Guamaré RNEST (Abreu e Lima) COMPERJ
  • 12. New Refineries Proposals Premium I - GUAMARÉ Abreu e Lima - PE Premium II - CE MA 600 thousand 300 thousand Capacity 30 thousand bpd 200 thousand bpd bpd bpd Sep/2013 and Sep/2014 and Operation Aug/2010 Aug/2010 Sep/2015 Sep2016 (2 phasis) (2 phasis) Investment US$ 191 Milllion US$ 4.05 Billion US$ 19.8 Billion US$ 11.07 Billion Gasoline and Porducts and Diesel GLP and Diesel GLP, Naphta and QAV (Brazil) and Market Rio Grande North and Northeast Diesel 10 ppm of sulfur do Norte (RN) BC 16 (50%) and BC-20 / BC- 18, BC-16 and Oil RN mix Carabobo (50% - BC-16 mixes with Tupi Venezuela) 100% Agreement in March 2008 Partnership Petrobras 60% Petrobras 100% Petrobras 40% PDVSA
  • 13. Incrising Refining Capacity Refining Capacity in the Brazil (thousand bbd) REMAN 46 LUBNOR 6 Premium-II/CE RLAM 323 REGAP 151 REDUC 242 REVAP 251 Premium-I/MA RECAP 53 Guamaré/RN REPLAN 365 RNEST/PE RPBC 170 REPAR 189 REFAP 189 RPI 15 Comperj/RJ TOTAL 2,000 New Capacities Premium I 600 Premium II 300 RNEST 200 COMPERJ 150 Guamaré 30 TOTAL 3,280
  • 14. Petrochemical Industry 14
  • 15. Petrochemical Industry Value Chain Exploration Olefins and Polymer and Refining Aromatics Moulding Final Usage Production Production Production Polyolefins Natural (HDPE, Gas Packages Olefins LDPE, Films (Ethylene, LLDPE) Processes: Automotive Propilene) Extrusion, components Polypropylene Blow-moulding, Tubes Aromatics Injection Cables Refineries (Benzene, Styrene/PS Wires Oil (Nafta and p-xylene) PTA/PET Electronic Propylene) AA/SAP equipments Fibers No integreted oil companies Petrochemical Companies Integrated Oil Companies Plastic Manufacturers Oil companies seek to maximize their profits integrating throughout the supply chain
  • 16. Simplified Plan of the petrochemical chain Basic Input 1st Genetation 2nd Genetation 3rd Genetation End-users Natural Gas Films, packaging. Retail Ethylene Polyethylene (PE) bottles, housewares sales wires and cables Ethane Butene Tubes and Ethylene connections, film PVC Buildings Dichloride wiers and cables Autopieces, casings Propylene Polypropylene (PP) and packages Foodstuffs Styrene Butadiene Nafta Electronic equipments Ethylbenzene Poliystyrene (PS) Automotive and packages industry Benzene ABS Automotive parts, Oil eletronic equipments Personal SBR and telephones care DMT Para-xylene Textile fibers and PTA PET bottles Other Other Other
  • 17. Petrochemical – Refining Integration 17
  • 18. REFINING + PETROCHEMICAL What are companies seeking? Integration Lower Costs in Operation Proximity to the Proximity to the Refining and and Accomplishment Consumer Market Feedstocks Petrochemical Companies decisions on petrochemical investments are based on: Sense of balance between petrochemical and refining cycles (i.e. hedge) Diversification into higher value added products Partnerships focusing on access to competitive feedstocks Develop a leadership position on costs of select products through leverage of synergies Competitiviness through high production scale and cost reductions Upstream integration and flexibility: refining streams as feedstocks Oil and gas major companies, private or state-owned, have important positions in petrochemical and continously seek growth with diverse strategies.
  • 19. Refining and Petrochemical Profitability Petrochemical Refining Refining and petrochemical integration hedges both segments against profitability cyclical performance, mitigating financial risks
  • 20. Oportunities for Petrochemical and Refining Integration Product Integration refinery streams as feedstock as feedstock for petrochemical plants Example: naphta, propylen, propane, ethane and refinery gas petrochemical streams as blendstock for refining operations Example : pyrolysis gasoline Product and Energy Integration product integration and power generation Example : COMPERJ, an integrated solution Technology Integration Example : automation technology for petrochemical companies Integration for Scheduled Maintenance Synchronization of the scheduled maintenance plans in order to optimize the maintenance efforts and avoid production gaps Example : petrochemical refinery plant
  • 21. Petrochemical Investments 21
  • 22. Petrochemical Segment Strategies on Strategic Plan - 2020 Expand operations in 1st and 2nd generation processes, increasing the production of petrochemicals, while adding value to the products of the Group’s refineries by capturing synergies related to the production of oil, gas, refining and petrochemicals Develop new technologies for the chemical industry based on the technological evolution of petrochemical fluid catalytic cracking (FCC), biodegradable polymers and biopolymers
  • 23. Refinery Propylene Sppliter Projects Objective: Provide petrochemical feedstock for polypropilene and other plants, through the extraction of the propylene from LPG stream, adding value to Company’s products. Investiments: US$ 688 MM Start-up: 2008 - Units: REGAP, REPLAN, REPAR and REVAP Total capacity: 741 kty
  • 24. Petrochemical Projects Petroquímica Suape Location: Suape/PE; Capacity: 640 kty PTA; Total investment: US$ 632 million; Raw material: imported p-xylene until 2012 and COMPERJ from 2013 onwards; Start-up: 4thQ 2009. Companhia Têxtil de Pernambuco - CITEPE Location: Suape/PE; Capacity: 240 kty POY; Total investment: US$ 342 million; Raw Material: imported POY until 2009 and Petroquímica Saupe from 2009 onwards; Start-up: 2thQ 2008.
  • 25. COMPERJ –Petrochemical Complex of Rio de Janeiro COMPERJ’s main purpose is to increase the production of petrochemicals in Brazil, using as feedstock 150 thousand bpd of domestic heavy crude, the Marlim oil from Campos Basin. Area: 45 million sq. ft. Location: Itaboraí - RJ Investments: US$ 8.38 billion Capacity: • Basic Petrochemicals: 1,300 kty ethene; 700 kty p-xylene; 881 kty propylene; 608 kty benzene; 157 kty butadiene; • Downstream: 800 kty PE; 850 kty PP; 500 kty styrene; 600 kty ethylene glycol; 500 kty PTA; 600 kty PET; Start-up: 2012 Technology: Petrochemical FCC – deep fluid catalytic cracking technology • This technology allow the production of huge amounts of olefins (ethene and propylene) and will enable tighter integration between refining and basic petrochemicals production technologies
  • 26. COMPERJ – Petrochemical Complex of Rio de Janeiro POLYPROPILENE 850 kta
  • 27. COMPERJ Location Pipelines: Cabiunas - REDUC Quattor Guapimirim’s APA REDUC PETROCHEMICAL COMPLEX Islands: Redonda CENPES and d´Água SÃO GONÇALO’S CENTRAL DISTRIBUTION BASE INTEGRATION CENTER TRAINING COORDINATION
  • 28. COMPERJ Production Production Production Products (kty) Products (kty) Basics Downstream Diesel 535 Polypropylene 850 Fuels Naphtha 284 Coke 700 Polyethylene 800 Ethylene 1,300 Styrene 500 Propylene 881 Ethylene Petrochemicals Benzene 608 600 glycol Butadiene 157 PTA 500 p-Xylene 700 Sulphur 45 PET 600
  • 29. COMPERJ Main Framework FEL 3 Conclusions Dez/08 Contracting of the Integrator Oct/07 End of the Integration Center Construction Oct/08 FEED Elaboration Oct/08 Acquisition of the Main Access Area Dec/08 Start of Embankment Mar/08 *UPB LI Feb/09 *Main Access Road LI Apr/09 *345 kV Transmission Line LI Jun/09 *Terminal and Pipeline LI Aug/09 *Submarine Emissary LI Dec/09 ANP Authorization Oct/09 Start of EPCs Contracting Feb/09 Expected Start-up Jun/12 Expected Full Operation Aug/13 *LI – Licenciamento de Instalações (Facilities Licensing)
  • 30. COMPERJ Schedule Step Step 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Accomplishment Business Planning (FEL 1) Conceptual Engineering (FEL 2) Basic Engineering (FEL 3) Constr. and Assembly Units Start-up UPB Conditioning and Start-up Concluded In progress To be started Full Operation
  • 31. Conclusions 31
  • 32. Motivation for Petrochemical-Refining Integration Benefits for Petrobras, adding value to the supply chain, capturing synergies related to both segments and following a global trend of upstream integration among large companies; Techonological challenges with the use of heavy crude oils for petrochemical purposes, using innovative Petrochemical FCC technology, developed internally and adopetd at COMPERJ, integrating refining operations and the production of basic petrochemicals; Strengthening of Brazilian Petrochemical Industry, promoting training, technology development, employment and income for the country.
  • 33. www.petrobras.com.br 33