Brasilia, April 2, 2026 (Lusa) - Brazil's state-owned oil company, Petrobras, announced on Thursday it would review its five-year plan to ensure diesel self-sufficiency for the nation within five years. The move responds to international market volatility triggered by the war in Iran.

Magda Chambriard, the company's chair, told a seminar that the firm seeks to eliminate dependency on imports, which currently cover around 30% of domestic consumption.

The chair said the current plan forecasts increasing production by around 300,000 barrels a day over the next five years, enough to meet approximately 80% of demand, but the company is now aiming for 100%.

“We are reviewing this plan to see if we can cover all demand in five years,” she said, highlighting the strategic importance of diesel for freight transport and farming in Brazil.

Diesel prices in Brazil have risen around 20% in recent weeks due to the Iran war, according to data from the National Petroleum Agency (ANP), the country's oil regulator.

Petrobras intends to increase refinery capacity to ensure self-sufficiency.

Main initiatives include expanding the Abreu e Lima refinery to potentially raise production to about 300,000 barrels a day and increasing capacity at the Duque de Caxias refinery by integrating it with the Boaventura Energy Complex (an industrial energy processing hub).

The company is adapting units to prioritise diesel production over other derivatives and may evaluate acquiring private refineries if strategically viable.

Discussions on the new plan will begin in May, and the company could announce the final version in November.

According to Chambriard, reaching self-sufficiency would reduce Brazil’s exposure to external fluctuations and ensure greater stability in energy supply.

MIM/LYT // AYLS

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