GOVERNMENT OF CEARÁ AGREES TO INSTALLATION OF OIL REFINERY IN PORTO DO PECÉM EPZ

Camilo Santana, the governor of Ceará, signed a memorandum of understanding for the installation of an oil refinery in the Export Processing Zone (EPZ) of Porto do Pecém, at the charge of the Brazilian company Noxis Energy. The total investment for the project is R$ 4.240 billion.

After environmental licensing, the implementation is expected to take place within a maximum of 30 months. Headquartered in Rio de Janeiro, Noxis Energy operates in the area of ​​oil refining, with plants installed in strategic locations along the Brazilian coast. In Ceará, the oil refinery’s main product will be bunker (ship) fuel oil, with a refining capacity of 50,000 BBL/day. When fully implemented, the estimated production by 2025 is 1,500,000 tons of fuel per year.

According to Gabriel Debellian, CEO of Noxis, “being in Ceará is very strategic for our company, as the state has favorable geographic conditions in a market with significant demand for oil products within a radius of 200 km, necessary facilities such as the modern Porto do Pecém, and Porto Itaqui in Maranhão. Due to a lack of supply, ships come to Brazil supplied with fuel for the return trip, so we place ourselves as the main source of refueling for a clean bunker, which will be required on vessels as early as 2020, reducing the sulfur content from 3.5% to 0.5%.”

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