Brazilian state oil company Petrobras has approved a $1.2 billion investment to build a renewable fuels plant producing sustainable jet fuel (bioQAV) and renewable diesel, according to a securities filing.

The facility will be developed at the Presidente Bernardes refinery in São Paulo state, with construction expected to begin this year and operations targeted for 2030.

The plant is designed to produce up to 15,000 barrels per day of renewable fuels, supporting Petrobras’ diversification into cleaner energy.

The investment is already included in its 2026–2030 strategic plan.

Following board approval, the company will now move into the final contracting phase for the project. -OGN/TradeArabia News Service