Peter Howard Wertheim
OGJ Correspondent
RIO DE JANEIRO, Mar. 7 -- Although Brazilian oil and gas operations remain dominated by state-owned Petroleo Brasileiro SA (Petrobras), which plans investments of $49.3 billion during 2006-10, a survey by the Brazilian Petroleum and Gas Institute (IBP) reveals that private companies will invest $17.5 billion in the same period.
According to the survey, private companies during the study period will invest $7.4 billion in exploration and production, $1.5 billion in refining and transport, $1.5 billion in natural gas, $3.9 billion in petrochemicals, and $3.2 billion in other activities, mainly gas distribution.
Petrobras during 2006-10 will invest $28 billion in exploration and production, $10.8 billion in refining and transport, $6.5 billion in natural gas, $1.9 billion in petrochemicals, and $1.9 billion in other activities.
Álvaro Teixeira, IBP's executive secretary, pointed out that petrochemicals and gas distribution are the business sectors most open to private oil and gas investors in Brazil.
Petrobras controls practically all the pipeline grid in Brazil and owns 11 of the 13 refineries.