June 22, 2026 [Reuters]- The board of ​Brazilian state-run oil company ‌Petrobras has approved a $1.2 billion investment to develop a ​plant for renewable jet ​fuel, known as bioQAV, ⁠and renewable diesel, the ​company said in a securities ​filing on Friday.

• Petrobras expects construction to start this year and the ​plant to begin ​operations in 2030.
• The plant will have the capacity ‌to ⁠produce up to 15,000 barrels per day of renewable fuels.
• It will be ​located at ​Petrobras’ ⁠Presidente Bernardes refinery in Sao Paulo ​state.
• The investment was already ​included ⁠in Petrobras’ 2026-2030 strategic plan.
• Following the board’s approval, ⁠Petrobras ​will proceed ​with the final contracting phase for ​the project.