Skip to comments.Pretrobras investing in oil and bio tech
Posted on 10/14/2009 1:29:38 PM PDT by larry hagedon
Celebrating Petrobras’ 56th anniversary, CEO José Sergio Gabrielli de Azevedo and the boards of Petrobras and of its subsidiaries held a press conference this Wednesday (10/07) at the company’s main office building, in Rio de Janeiro.
"We are the world’s only major company that uses most of its production to feed its own refineries, which, in turn, market their products mainly in the domestic market. This characteristic is unique in the world," emphasized the CEO, who highlighted the role the company will play from now on, particularly in the supplier chain. "Petrobras will not only supply oil derivatives, natural gas, and biofuels. It will also be in charge of structuring the oil, refinery, petrochemical, and biofuel supplier chain,"
Bidding for 28 drilling rigs to be held next week Service director, Renato Duque, announced the bidding procedure for the construction of 28 drilling rigs is scheduled to be held next week. The bid will be divided into three packages, and the units are expected to go on stream between 2013 and 2017.
Biofuels Petrobras’ planning for the biofuels area was one of the issues the journalists brought up. "We have a business plan worth upwards of $2 billion in investments earmarked for biodiesel and ethanol through 2013. In terms of volume, our goal is to achieve a 25% market share for biodiesel and 15% for ethanol. We expect to become ethanol producers before the end of the year.
(Excerpt) Read more at oilonline.com ...
it appears to have no future in the US as Barry and the Gang are about to declare it a No Profit Zone
None, and I am willing to come and physically fight you as a form of debate.
Marathon Oil does essentially the same thing...
Didn’t Barry just give Pretrobras a bunch of our money?
Yep, a couple of billion. I posted on it a few places
No surprise. I see lots of company reports that claim to be the only ones doing something, when in fact many are.
Certainly Barry can hurt ethanol, but ethanol is a small part of biotechnology, and with the rest of the world driving biotechnology and ethanol, and many world militaries including our DOD deeply invested, Barry will not do much more than bankrupt a few US companies.
The world will pass us by again, but what else is new.
LOL, do I get to chose the weapons?
In 2008, Marathon produced 243 thousand barrels a day from oil wells ad oil sands.
They refined about a million barrels a day. Most of the oil through their refineries comes from someone else.
Have you got that in emerald green?
As I was passing Cuba a few days ago, I noticed a drilling rig offshore.