QUITOL: Petrobras Chief Executive Jean Paul Prates said on Tuesday that the Brazilian state-owned oil company plans to expand its refining capacity by 25% over four years.

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Prates, speaking on the sidelines of the India Energy Week event in Goa, also said that the company is not affected by shipping disruptions in the Red Sea as it does not use those routes, and that he hopes oil prices remain in last year’s $70-$90 per barrel range.