June, 07, 2013 - Petrobras expects its refinery at Comperj (Petrochemical Complex of Rio de Janeiro) to start operations in August 2016, more than one year later than previously planned.

Speaking during an event on June, 7, Maria das Graças Foster, CEO of Petrobras, said that issues related to environmental licensing and changes in the refinery project were the reasons for the delay.

It was expected earlier that Comperj refinery would start processing crude oil in April 2015.

Comperj refinery will have capacity to process 165,000 barrels per day of crude oil when it comes into operation, the company said. A second phase, previously expected to be completed by 2018, will double the capacity of the complex.

When completed, the refinery will alleviate the dependence of Petrobras from expensive fuel imports which have reduced the company's profits over the last two years. Petrobras' refineries are operating at 98% capacity and have not been able to meet the growing demand for gasoline and diesel in Brazil, forcing the company to import those fuels to meet the market demand.