Despite Crisis Sale of Oil Products Grows 3% for Brazilian Petrobras

Brazil's gas station of Petrobras' BR At least for now, the international financial crisis has not affected Brazilian state-controlled oil multinational Petrobras sales of oil products. From January to November, sales by the company grew 3.3%, when compared to the same period last year.

This according to the Supply and Refining director at Petrobras, Paulo Roberto Costa, who participated this Monday, December 1st, in a biofuels seminar, in Rio de Janeiro, Brazil.

In the evaluation of the director, the figures are still normal, despite the international financial crisis and the reduction verified in consumption of some of the products, due to seasonal aspects. Due to the end of the crops, there is contraction in sales of fuels for tractors and machinery used in crops.

To Costa, in general terms, at least up to now, the market of oil products has been behaving similarly to its behavior in previous years. "Up to now we have had, in the month of November, growth of 3.2% in the market when compared to the previous year. So, if we take the average of all products, we are selling in Brazil 3.2% more than in 2007".

With regard to the Petrobras 2009-2013 Business Plan, Costa informs that it is already in the conclusion phase and should be voted and approved by the company's board of governors on December 19th, when it should also be disclosed to investors and to the press.

Despite not forwarding anything about the company plans, he said that the organization should expand investment when compared to the current business plan (2008-2012), which forecasts investment of US$ 112.4 billion.

"The details will only be disclosed after approval by the executive board and by the Board of Governors. But it is important for Petrobras to continue investing, we believe very much in our potential and are sure that the world is still going to need much oil."

In his evaluation, the company understands that the most adequate moment for investment is now. "It is worth recalling that even though we have a reduction in global demand I believe that prices are going to rise (on the foreign market). And the most adequate moment for investment is a moment of crisis. That is when everyone stops investing and the best moment for it arrives," he believes.

The Supply director at Petrobras also informed that the company's ethanol exports this year should reach 605 million liters, growth of over 400% over 2007. According to Costa, of this total, 100 million liters were turned to the Asian market, to Japan, and the rest went to the United States and Europe. The country's total exports should end 2008 at 4.2 billion liters, said the executive.

ABr

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