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To: Fiscally Conservative who wrote (101905)	6/1/2008 8:43:59 AM
From: elmatador	Respond to of 206118

aim is to export derivatives instead of crude oil, as the refined product has greater added value. and already blended with any % of ethanol he may have added. Petrobras steps up newbuilding programme Lloyd's List, UK - May 27, 2008 The original 16 vessels will be largely made up of product tankers needed to export oil derivatives from Petrobras refineries. Petrobras looks at building another refinery in Brazil Agência Brasil* Rio de Janeiro – The president at Petrobras, José Sergio Gabrielli, announced yesterday (28th) that the state-owned oil company is looking at building another refinery in the country, so as to capitalize on the large volumes of oil recently discovered in the pre-salt layer. The aim is to export derivatives instead of crude oil, as the refined product has greater added value. Petrobras already has two refineries under construction: one in the Petrochemical Hub of Rio de Janeiro (SE Brazil) and the Abreu Lima Refinery, in the state of Pernambuco (NE), in partnership with state-owned oil company PDVSA, from Venezuela. Now, the company is looking at building the Premium Refinery (NE). "We are conducting studies on the construction of two more refineries, in addition to the two already being built. The idea is for this fourth refinery to be larger than the others. Studies are still being carried out, therefore we cannot provide figures with regard to investment or the volume of oil to be processed," he claimed. Gabrielli's statements were made during a lecture at the 20th National Forum of the National Institute for Higher Studies. By mid next decade there will be super tankers full with gasoline laced with ethanol. Brazil doesn't want to exprt crude. It wants to export distillates.