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 Petrobras, the Brazilian government-controlled oil company, plans to invest US$ 18.2 billion between 2008 to 2012 in the exploration and production, supply and international areas, aimed at supplying the natural gas demand in Brazil.
The information was disclosed by the Gas and Energy director at the company, Maria das Graças Foster, on detailing the organization's Business Plan for the Gas and Energy department. The plan forecasts total investment of US$ 112.4 billion in the period.
Of the US$ 18.2 billion, US$ 4.5 billion will be turned directly to the expansion of the gas pipeline grid and to the construction of liquefied natural gas (LNG) regasification terminals.
Another US$ 1.9 billion will be applied to energy development (biodiesel, wind energy and other alternative sources) and electric energy (construction and conversion of thermoelectric generators).
In the biofuel sector, Petrobras intends to expand operation in ethanol, to participate in the national productive chain for the development of international markets, focussing on logistics and trade.
And also wants to develop and lead national production of biodiesel turned to the domestic market as well as acting in opportunities on the foreign market, and to develop technologies to guarantee global leadership in the production of biofuels, including that made from low value-added raw materials (residual biomass).
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Proof they are not that bullish and positive on biodiesel and alternatives sources of energy !
By doing so, they still please the Government rethorics, since the company is government controlled.