01:41 PM EDT, 09/13/2024 (MT Newswires) -- Petrobras (PBR) plans to invest 20 billion reais ($3.60 billion) in a Rio de Janeiro complex made up of a refinery, and a plant that will produce derivatives, Bloomberg reported Friday, citing the company's chief executive.

Petrobras plans to allocate 13 billion reais in the upcoming years toward the facility that will produce derivatives in Itaborai and another 7 billion reais will be spent on a refinery located near the complex, Magda Chambriard said.

Work will begin in 2025, according to Chambriard.

Petrobras did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 14.61, Change: +0.17, Percent Change: +1.17