Petrobras announces international strategies

Nestor Cerveró, Petrobras International Area director, detailed the company's international strategies for 2008-2012 at a press conference held Sept. 10.

Offshore staff

RIO DE JANEIRO, Brazil -- Nestor Cerveró, Petrobras International Area director, detailed the company's international strategies for 2008-2012 at a press conference held Sept. 10. Some 70% of the company's Exploration & Production budget, or $10.5 billion out of a $15 billion total, will be spent internationally. Priority will be given to projects in Latin America, western Africa, and in the Gulf of Mexico.

The international oil, LNG, and natural gas production goals are for 436,000 boe/d in 2012 and 698,000 boe/d in 2015.

The Refining, Transportation, Marketing, and Petrochemicals area will get $3.7 billion (25% of the total investments), while the other business segments involved will receive the remaining 5%.

For downstream, the strategy is to increase the integrated performance in refining, marketing, logistics and distribution, focusing on the Atlantic Basin.

Petrobras will seek to boost its presence in Petrochemicals and Gas & Energy in South America. In the biofuel segment, meanwhile, the company hopes to become a global player, leading biodiesel production and rising its participation in the ethanol business.

09/10/2007

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