RIO DE JANEIRO, Jan 19 (Reuters) - Brazilian refined petroleum production fell 6.3 percent in 2015, the first annual decline since 2008, as the energy demand shrank along with a weakening economy, Brazil’s petroleum regulator ANP said on Tuesday.
The volume of crude processed in Brazilian refineries in 2015 also fell for the first time since 2008, slipping 5.8 percent compared with 2014, the ANP said.
The decline in volumes could add to the woes of state-run Petroleo Brasileiro SA, or Petrobras, which is struggling with $130 billion of debt, the largest in the world oil industry. Much of Petrobras’ revenue comes from the sale of fuels such as gasoline and diesel, and its tight cash situation has already forced it to cut its five-year investment plan three times in the last year.
Petrobras owns 14 operating refineries in Brazil and has a stake in a 15th. It refines virtually all of Brazil’s vehicle fuels. (Reporting by Marta Nogueira, writing by Jeb Blount; Editing by Chris Reese)