Brazil Invests US$ 8.5 Billion to Improve and Export Fuel to US and EU

Gasoline in Brazil Brazil's government-controlled oil multinational Petrobras plans to increase gasoline exports to compensate the lower consumption on the domestic market, due to the greater consumption of fuel alcohol – which overtook gasoline in February.

This is a fact that had not taken place since the end of the 1980s, at the height of the Pro-Alcohol, an ancient Brazilian government program that favored the production of alcohol.

This information was disclosed on Friday, April 25, by the Supply and Refining director at the organization, Paulo Roberto Costa, who said that the company will invest US$ 8.5 billion over the coming years in improvement of the quality of the gasoline produced in the country and in the reduction of sulfur content.

With this, the company may enter more demanding markets, like the European and United States, the main gasoline consumer in the world, using around 9 million barrels a day.

"Alcohol consumption in Brazil is growing very much, mainly as the price of the product is now very competitive. Therefore, up to 2010, Petrobras is going to work to improve the quality of its gasoline, by which time we should have premium gasoline, with better quality to be sold on the foreign market – mainly in Europe and North America," he said.

Paulo Roberto Costa stated that Petrobras currently exports gasoline to several nations, but said that the plan is to reach new consumer markets.

"Our gasoline goes to South America, Central America, Africa and the Middle East – where there are great producers and exporters of oil that do not have sufficient refining capacity to supply their own markets. We export gasoline, for example, to Iran," he said.

Regarding the sulfur content in gasoline, Costa said that starting in 2010 the market might be expanded "to countries in Asia – mainly Japan – and Europe, which are more demanding in the environmental point of view."

ABr

Tags:

You May Also Like

Firing fever hits our economy

In a global economy with companies looking closer at the bottom line jobs have ...

Taxes and High Interests Are the Main Bad Guys in Brazilian Economy

The Getúlio Vargas Foundation’s (FGV) Brazilian Economics Institute (IBRE) announced the results this Tuesday, ...

Good Image Helps Brazil Put Seasoning at Arab Tables

Arab culinary is surrendering to Brazilian seasoning. The trading company Double Port, based in ...

Beatings, Censorship, Harassment: All in a Day’s Work for Brazilian Press

Reporters Without Borders voiced concern today, February 7, about an increase in legal proceedings ...

Brazil Losing Another Race, This Time to Mexico

In the 1970s and 1980s few listened to those asserting that, due to their ...

Brazil Agribusiness Grows 12% to Record US$ 44 Billion

Brazilian agribusiness exports broke a new record and reached US$ 43.6 billion last year. ...

Latest Word from Brazil: No Survivors Among 155 Aboard Jet Fallen in Jungle

As feared the worst happened to the 155 people aboard the Boeing from Gol ...

December 1993

CONTENTS: Cover: Overhauling the Constitution (p. 7) Literature: Lygia Fagundes Telles’s short story (p. ...

Fooling the British, the Brazilian Way

While the British wanted slavery abolished in Brazil, Brazilians with an economy dominated by ...

The Economist Decides to Teach Brazil and Lula a Few Lessons

Recently, capitalism ‘bible’ The Economist, published in London since September 1843, decided to give ...