Group12_Petrobras - Factiva

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Brazil Petrobras To Spend $30.9B On 2 New Refineries -Estado 339 words 28 August 2008 13:30 Dow Jones Energy Service NRG English RIO DE JANEIRO (Dow Jones)--Brazilian state-run energy giant Petroleo Brasileiro SA (PBR) plans to invest $30.9 billion to build two key refineries as the company ramps up production of oil derivatives aimed at the export market, the company's director of premium refining said Thursday. Quoted by the local Estado news agency, Petrobras' Sandra Lima de Oliveira said a premium refinery in Maranhao state will cost $19.8 billion, while a refinery in Ceara state will run $11.1 billion. The refineries are expected to be fully operational by 2016. The two refineries will process heavy crude produced at Petrobras rigs in the Campos Basin, off the coast of Rio de Janeiro state. The Maranhao refinery, expected to be the company's largest, will process 300,000 barrels a day when it enters operation in September 2013. A second phase will boost
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