Dealing with petroleum surpluses in Brazil through optimization refining model

This study develops a model for linear programming to identify the best option for the use of potential surplus oil in Brazil. The methodology is capable of identifying key international markets that could be served by oil exports and oil products from Brazil, in addition to providing investment in new refineries, in the national refinery installed base or in foreign markets. Through a case study application, it was found that the proposed modeling is capable of adequately representing the real problem of the different possibilities of utilization of surplus crude oil from Brazil. This is a relevant tool to design liquid fuels supply policies in petroleum producing countries. It also helps understanding the better strategy for valuing petroleum surpluses.