Brazil's Petrobras to increase ethanol exports by 2020

07 November 2011 23:36  [Source: ICIS news]

PORTO ALEGRE, Brazil (ICIS)--Petrobras plans to increase its ethanol exports from 8,000 bbl/day to 26,000 bbl/day by 2020, said the Brazil-based energy producer on Monday.

Exports of crude oil and oil products are also expected to rise, according to the 2011–2015 business plan presented by the president of Petrobras, Sergio Gabrielli, during a press conference at the Brazilian Chamber of Commerce in Tokyo, Japan.

According to the document, the increase of exports for crude oil, oil products and ethanol will happen as a result of the expansion of Petrobras' refining capacity.

The business plan also says the company will continue to invest in research and development (R&D) to find additional competitive advantages.

In 2010, Petrobras invested around $1bn (€730m) in R&D, about 5% of its revenues.

($1 = €0.73)

By: Leo Siqueira
+1 713 525 2600

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