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Austin, TX (ZPRYME NEWS) – 05/14/08 - The leading petroleum company in Brazil is the Brazilian Petroleum Corporation or Petrobras for short. Petrobras was created in 1953, during the term of Brazilian President Getulio Vargas. Today, the company owns several oil refineries and oil tankers. The company continues to innovate new ways of deepwater and ultra-deep water oil production. According to Financial Times, “ In more than 2,000 metres of water off the coast of Brazil, Petrobras, the Brazilian national oil company, is drilling what could become one of most important oil wells of recent years.”

Since Petrobras continues to explore new ways and places for oil, it is only logical that their output would increase. Rigzone reported that, “Petrobras set the record exports mark of 532,000 barrels per day of domestic oils, totaling 15,965,000 barrels in April 2008.” A year before this, Petrobras only produced 484,000 barrels of oil per day.

Petrobras is looking into its options when it comes to exporting ethanol. USA Today quoting the Chief executive of Petrobras, Jose Garbrielli, “We are moving fast to the wholesale export of ethanol. We're investing in infrastructure in Brazil to make it easier to export in large quantities."

Brazil’s largest ethanol producer is Cosan. Ethanol Statistics claimed that, “Cosan S/A is Brazil’s largest, most consolidated sugar and ethanol producer. With 17 operational plants that process 40 million tonnes of sugarcane per year, Cosan sold 1.32 billion litres of ethanol and 3.25 million tonnes of sugar in FY’07.”

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Zpryme: Emerging Markets Group

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