Rio de Janeiro – Petrobras will invest USD 54 billion in projects in the state of Rio de Janeiro within the next five years. The information was given by the company’s president, Roberto Castello Branco, over lunch at the Rio de Janeiro Trade Association this Friday (9).
“Our focus in the state of Rio de Janeiro is oil and gas exploration and production, which initially doesn’t include gas and distribution or transport. Maybe gas-fired thermal power stations. This is our company’s focus. It’s not an industrial focus. We are an oil company,” he said.
“Petrobras is investing USD 54 billion – nobody cares, nobody pays attention, and they even demand more. If a car plant comes here and decides to invest USD 100 million, it’ll be received with a huge enthusiasm. Nobody cares for the billions of dollars we’re investing,” Castello Branco added.
He explained that Petrobras is a company from Rio de Janeiro, because it’s based in the city, but, since it will increase its focus on oil and gas exploration and production by 2022, its operations and refineries will be concentrated in São Paulo and Espírito Santo, as well as Rio de Janeiro.
Translated by Guilherme Miranda
