Brazil’s Petrobras to Spend US$ 6.5 Billion in Its Biggest Project Ever

Petrobras presented plans for a US$ 6.5 billion petrochemical complex described as the "biggest single project in the history of the company."

The project was presented this week to officials from Itaboraí­ and São Gonçalo, the two cities in Rio de Janeiro state that will be home to the complex.

"The main goal of the presentation is to show the transparency that Petrobras brings to its projects in the communities that will somehow be affected," the company said in a statement.

Petrobras petrochemicals division chief, Paulo Roberto Costa, discussed the planned complex with officials, business leaders and students from the two cities.

Crude oil for the complex will come from Rio de Janeiro state’s offshore Campos basin. Petrobras produces nearly 80% of the country’s oil from the basin.

The Rio de Janeiro petrochemical complex, which Petrobras will operate with Brazilian partner Ultra, will require investing some US$ 6.5 billion between 2007 and 2011, said the company’s release.

The complex will have a processing capacity of 150,000 barrels of crude per day.

Output from the plant will supply the domestic market for petrochemical resins, propane, benzene and other products that are currently imported.

Government owned Petrobras ranks 14th among the world’s largest oil companies according to Petroleum Intelligence Weekly. Petrobras lists its shares and bonds on the stock exchanges in New York, Madrid and São Paulo.

Mercopress –


  • Show Comments (2)

  • Guest

    How about the Amazon area?
    Chaves is sitting on black gold. Can´t Petrobras do the same before it gets too late?

  • Guest

    Petrobras is NOT….
    …Government owned…but….Government controlled !

    Quite a difference !

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


You May Also Like

If Only Lula Could Show a Little Leadership to Move Brazil Ahead

The penultimate Brazilian President to resign was Jânio Quadros in 1962. Eventually, leftist leaning ...

KFC’s Secret Ingredients Include Soy That’s Destroying the Amazon, Says Greenpeace

Greenpeace volunteers unfurled a 300 square meter banner in a massive area of deforestation ...

Brazil Says Idea of Internationalizing the Amazon Never Goes Away

The doctrine of “collective public goods,” such as drinking water and forest resources, and ...

Bolivia’s Oil Nationalization Shows LatAm’s Pink Tide Gradation from Cuba to Brazil

Four days after President Evo Morales exploded with a resounding decree which nationalized Bolivia’s ...

Brazil Triples Payment for Itaipu’s Energy. Some Think It’s Too Little

On an amicable solution to a decade long dispute over a hydro-electric dam on ...

Brazil Campaign Doubles Number of Bone Marrow Donors

The number of bone marrow donors in Brazil doubled in the past year, after ...

A Starving World Will Never Be Safe, Says Brazil’s Lula at UN

In his speech at the opening of the 61st United Nations General Assembly in ...

Brazilians Are Too Cordial to Love Moore

Given all the anti-Bush sentiment in Brazil, I had expected the documentary film “Fahrenheit ...

Frontpage of O Estado de S. Paulo on calm returning to São Paulo

Organized Crime Shows the World Who’s the Boss in Brazil

At the moment this article is being written, the city of São Paulo is ...

Interest Rate Hikes Not Reining In Brazil’s Inflation

Brazilian inflation remains strong in spite of the extremely tight monetary policy with the ...