Petrobras Outlines International Strategies

During a press conference held September 10, at the company's main office building, Petrobras' International Area director, Nestor Cerveró, detailed the company's international strategies for 2008-2012. The segment that is posed to receive most of the international investments, $15 billion in total, will be Exploration & Production, at $10.5 billion (70%). Priority will be given to projects to be carried out in Latin America, Western Africa and in the Gulf of Mexico.

The international oil, LNG, and natural gas production goals are for 436,000 barrels of oil equivalent per day (boed) in 2012 and 698,000 boed in 2015.

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

For downstream (Refining, Transportation, marketing), 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 raising its participation in the ethanol business.

The Unites States will be most of the investments slated to be made abroad, $4.9 billion, trailed by Argentina, Nigeria, Angola, and other investment portfolio opportunities.