Brazil's Petrobras wants to target Japanese investors

07 November 2011 23:37  [Source: ICIS news]

PORTO ALEGRE, Brazil (ICIS)--With Brazil's demand for oil products growing faster than the world economy, Petrobras wants to target Japanese investors, the company said on Monday.

During a press conference held on Monday at the Brazilian Chamber of Commerce in Tokyo, Petrobras president Sergio Gabrielli said Japanese industry will be welcome, but 65% of the capital will have to be domestic.

"From 1980 to 2011, Petrobras had increased its oil production more than 10 times, which is expected to grow from 2.1bn bbl/day to 4.9bn bbl/day by 2020," he said.

During his speech, Gabrielli presented a business plan which says the company plans to expand its refining capacity to meet the increase in oil products and ethanol production.

Brazil's domestic ethanol supply is expected to grow nearly four-fold to 5.6 million cubic meters (Mm3) in 2015 from 1.5Mm3 in 2011,  according to the plan.

Biodiesel supply will grow by 16% to 855,00m3 in 2015 from 735,000m3 in 2011, according to Petrobras' plan.


For more on Petrobas, visit ICIS company intelligence

By: Leo Siqueira
+1 713 525 2600

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index