1
Pa
ulo
Ro
be
rto
Co
sta
Do
wn
str
eam
Dir
ecto
r
Pa
ulo
Ro
be
rto
Co
sta
Do
wn
str
eam
Dir
ecto
r
Petr
och
em
ical
an
d
Re
fin
ing
In
teg
rati
on
-
Petr
ob
ras P
an
ora
ma
Petr
och
em
ical
an
d
Re
fin
ing
In
teg
rati
on
-
Petr
ob
ras P
an
ora
ma
2
Ag
en
da
Ag
en
da
:: S
tra
teg
ic P
lan
- 2
02
0
:: R
efi
nin
g I
nv
es
tme
nts
:: P
etr
oc
he
mic
al
Ind
us
try
:: P
etr
oc
he
mic
al-
Re
fin
ing
In
teg
rati
on
:: P
etr
oc
he
mic
al
Inv
es
tme
nts
:: C
on
clu
sio
ns
:: S
tra
teg
ic P
lan
- 2
02
0
:: R
efi
nin
g I
nv
es
tme
nts
:: P
etr
oc
he
mic
al
Ind
us
try
:: P
etr
oc
he
mic
al-
Re
fin
ing
In
teg
rati
on
:: P
etr
oc
he
mic
al
Inv
es
tme
nts
:: C
on
clu
sio
ns
Na
tura
l G
as
Na
tura
l G
as
• G
as
Sale
s:
50 m
illi
on
s o
f m
³/d
ay
(b
razil
ian
pro
du
cti
on
an
d i
mp
ort
s)
Exp
lora
tio
n a
nd
P
rod
ucti
on
Exp
lora
tio
n a
nd
P
rod
ucti
on
• P
rov
en
re
serv
es
: 1
1.7
Bil
lio
n b
oe
(n
ot
inc
lud
ing
th
e T
up
i, J
up
ite
r, C
ari
oc
a,
Iara
an
d B
em
-Te-V
i d
isco
veri
es)
• O
il a
nd
ga
s p
rod
uc
tio
n:
2.0
65
mil
lio
ns
bo
e/d
(S
EC
200
7)
Pe
tro
ch
em
ica
l a
nd
Fe
rtil
ize
rs
Pe
tro
ch
em
ica
l a
nd
Fe
rtil
ize
rs
•P
etr
ob
ras
ha
s r
ele
va
nt
sh
are
s o
f th
e t
wo
main
bra
zilia
n p
etr
oc
he
mic
al c
om
pa
nie
s,
Qu
att
or
(40%
) a
nd
Bra
sk
em
(3
0%
). T
he
se
tw
o c
om
pa
nie
s r
un
2
7 p
etr
oc
he
mic
al p
lan
ts,
pro
du
cin
g b
as
ic p
etr
oc
he
mic
als
an
d p
las
tic
re
sin
s.
•T
he
fert
iliz
ers
pla
nts
, lo
ca
ted
at
Ba
hia
an
d S
erg
ipe
sta
tes
, p
rod
uc
ed
to
ge
the
r, d
uri
ng
2
00
7 c
am
pa
ign
, 2
35,0
00
t o
f am
mo
nia
an
d 8
24
,00
0 t
of
ure
a, m
os
t o
f th
em
to
Bra
zilia
n
ma
rke
t.
• O
ver
7,0
00 s
erv
ice s
tati
on
s,
co
nsti
tuti
ng
th
e l
arg
est
an
d t
he u
niq
ue
sta
tio
n n
etw
ork
sp
rea
d th
rou
gh
ou
t b
razil
ian
te
rrit
ory
.
•O
ver
10,0
00 c
lie
nts
am
on
g i
nd
us
trie
s,
the
rmo
ele
ctr
ic c
om
pa
nie
s,
air
lin
es
an
d v
eh
icle
fle
ets
.
Dis
trib
uti
on
Dis
trib
uti
on
Re
fin
ing
,T
ran
sp
ort
ati
on
a
nd
Ma
rke
tin
g
Re
fin
ing
,T
ran
sp
ort
ati
on
a
nd
Ma
rke
tin
g
• 1
6 R
efi
ne
ries –
Bra
zil
(1
2);
Arg
en
tin
a (
2);
US
A (
1);
Jap
an
(1
)
• C
ap
acit
y:
2269 t
ho
usan
d b
pd
• O
il a
nd
gas p
ipeli
nes:
11,0
00 k
m
• S
hip
s (
ow
n f
leet)
: 5
4
En
erg
yG
en
era
tio
n
En
erg
yG
en
era
tio
n
• 15 T
herm
oele
ctr
ic p
lan
ts –
5,3
00 M
W i
nsta
lled
• 1
5 S
ma
ll h
yd
roe
lec
tric
pla
nts
an
d 1
2 T
he
rma
l p
lan
ts –
un
de
r c
on
str
uc
tio
n –
1,8
00
MW
Petr
ob
ras –
An
En
erg
y I
nte
gra
ted
Co
mp
an
yP
etr
ob
ras –
An
En
erg
y I
nte
gra
ted
Co
mp
an
y
Petr
ob
ras –
Co
mp
an
y’s
In
teg
rate
d A
cti
vit
ies
Petr
ob
ras –
Co
mp
an
y’s
In
teg
rate
d A
cti
vit
ies
Investm
en
t P
lan
by B
usin
ess S
eg
men
tIn
vestm
en
t P
lan
by B
usin
ess S
eg
men
t
PE
TR
OB
RA
S
26,1
1,1
4,2
3%
13
%
84
%
DO
WN
ST
RE
AM
2008-1
2 P
eri
od
US
$ 3
1,4
bi
2008-1
2 P
eri
od
US
$ 1
12,4
bi
Pe
tro
qu
ímic
a
RT
C
Bio
co
mb
us
t ív
el
Cu
rre
nt
Re
fin
ing
In
fra
str
uc
ture
in
Bra
zil
Cu
rre
nt
Re
fin
ing
In
fra
str
uc
ture
in
Bra
zil
RE
MA
N46
LU
BN
OR
6
RL
AM
323
RE
GA
P151
RE
DU
C242
RE
VA
P251
RE
CA
P53
RE
PL
AN
365
RP
BC
170
RE
PA
R189
RE
FA
P
RP
I
189
15
TO
TA
L B
RA
ZIL
2,0
00
Re
fin
ing
Ca
pa
cit
y (T
ho
us
an
d b
arr
els
/da
y)
AR
GE
NT
INA
69
US
A
1
00
JA
PA
N100
TO
TA
L P
ET
RO
BR
AS
2,2
69
Refi
nin
g N
ew
Pro
jects
Refi
nin
g N
ew
Pro
jects
RN
ES
T(A
bre
u e
Lim
a)
Gu
am
aré
PR
EM
IUM
II
PR
EM
IUM
I
CO
MP
ER
J
RE
MA
N46
LU
BN
OR
6R
LA
M323
RE
GA
P151
RE
DU
C242
RE
VA
P251
RE
CA
P53
RE
PL
AN
365
RP
BC
170
RE
PA
R189
RE
FA
P
RP
I
189
15
TO
TA
L2,0
00
New
Cap
acit
ies
Pre
miu
m I
600
Pre
miu
m I
I300
RN
ES
T
CO
MP
ER
J
200
150
Gu
am
aré
TO
TA
L
30
3,2
80
Refi
nin
g C
ap
acit
y in
th
e B
razil (
tho
usan
d b
bd
)
Incri
sin
g R
efi
nin
g C
ap
acit
yIn
cri
sin
g R
efi
nin
g C
ap
acit
y
Pre
miu
m-I
/MA
Gu
am
aré
/RN
Co
mp
erj
/RJ
Pre
miu
m-I
I/C
E
RN
ES
T/P
E
Oil c
om
pan
ies s
ee
k t
o m
axim
ize t
heir
pro
fits
in
teg
rati
ng
th
rou
gh
ou
t th
e s
up
ply
ch
ain
Refi
neri
es
(Naft
a a
nd
Pro
pyle
ne
)
Natu
ral
Ga
s
Oil
Ole
fin
s
(Eth
yle
ne
,
Pro
pil
en
e)
Aro
mati
cs
(Ben
zen
e,
p-x
yle
ne)
Po
lyo
lefi
ns
(HD
PE
,
LD
PE
,
LL
DP
E)
Po
lyp
rop
yle
ne
Sty
ren
e/P
S
PT
A/P
ET
AA
/SA
P
Pro
cesses:
Extr
usio
n,
Blo
w-m
ou
ldin
g,
Inje
cti
on
Packag
es
Fil
ms
Au
tom
oti
ve
co
mp
on
en
ts
Tu
bes
Cab
les
Wir
es
Ele
ctr
on
ice
qu
ipm
en
ts
Fib
ers
No
in
teg
rete
do
ilco
mp
an
ies
Pe
tro
ch
em
ica
lC
om
pan
ies
Inte
gra
ted
Oil
Co
mp
an
ies
Pla
sti
c M
an
ufa
ctu
rers
Refi
nin
gP
oly
me
r
Pro
du
cti
on
Ole
fin
sa
nd
Aro
mati
cs
Pro
du
cti
on
Fin
al
Usag
eM
ou
ldin
g
Ex
plo
rati
on
an
d
Pro
du
cti
on
Petr
och
em
ical
Ind
ustr
yV
alu
eC
hain
Petr
och
em
ical
Ind
ustr
yV
alu
eC
hain
Sim
pli
fie
d P
lan
of
the
pe
tro
ch
em
ica
l c
ha
inS
imp
lifi
ed
Pla
n o
f th
e p
etr
oc
he
mic
al
ch
ain
Basic
In
pu
t
Eth
an
e
Naft
a
Na
tura
l G
as
Oil
1s
t G
en
eta
tio
n
Eth
yle
ne
Bu
ten
e
Pro
pyle
ne
Bu
tad
ien
e
Ben
zen
e
Para
-xyle
ne
2n
d G
en
eta
tio
n
Po
lye
thyle
ne
(P
E)
Po
lyp
rop
yle
ne
(P
P)
Sty
ren
e
AB
S
SB
R
PE
T
Oth
er
PT
A
DM
T
Eth
yle
ne
Dic
hlo
rid
eP
VC
Eth
ylb
en
zen
eP
oli
ys
tyre
ne
(P
S)
3rd
Gen
eta
tio
n
Film
s,
packag
ing
. b
ott
les,
ho
usew
are
s
wir
es a
nd
cab
les
Tu
bes
an
d
co
nn
ecti
on
s,
film
w
iers
an
d c
ab
les
Au
top
ieces,
casin
gs
an
d p
ackag
es
Ele
ctr
on
ic e
qu
ipm
en
tsan
d p
ackag
es
Au
tom
oti
ve
pa
rts
, ele
tro
nic
eq
uip
men
ts
an
d t
ele
ph
on
es
Texti
le f
ibers
an
d
bo
ttle
s
Oth
er
En
d-u
sers
Reta
il
sa
les
Bu
ild
ing
s
Fo
od
stu
ffs
Au
tom
oti
ve
ind
ustr
y
Pers
on
al
ca
re
Oth
er
Wh
at
are
co
mp
an
ies s
eekin
g?
Lo
wer
Co
sts
in O
pe
rati
on
an
dA
cco
mp
lish
men
t
Pro
xim
ity
to t
he
Co
ns
um
er
Mark
et
Pro
xim
ity
to t
he
Feed
sto
cks
Inte
gra
tio
n
Re
fin
ing
an
d
Petr
och
em
ical
PE
TR
OC
HE
MIC
AL
RE
FIN
ING
+
Co
mp
an
ies
decis
ion
so
np
etr
och
em
ical
investm
en
tsare
based
on
:
Sense
of bala
nce b
etw
een p
etr
ochem
icala
nd
refin
ing
cycl
es
(i.e
. hedge)
Div
ers
ifica
tion
into
hig
her
valu
eadded
pro
duct
s
Part
ners
hip
sfo
cusin
gon
access
to c
om
petit
ive f
eedsto
cks
Develo
pa
leaders
hip
positi
on
on
costs
of sele
ctpro
ducts
thro
ugh
levera
ge
of synerg
ies
Com
petit
ivin
ess
thro
ugh
hig
hpro
duct
ion
scale
and c
ost
reductio
ns
Upstr
eam
inte
gra
tion
and
flexib
ility
: re
finin
g s
tream
sas f
eedsto
cks
Oil
and
gas
majo
r com
panie
s,
private
o
rsta
te-o
wned,
have
import
ant
positi
ons
inpetr
ochem
icala
nd c
ontin
ously
seek
gro
wth
with
div
ers
estr
ate
gie
s.
Refi
nin
g
an
d
petr
och
em
ical
inte
gra
tio
n
hed
ges
bo
th
seg
men
ts
ag
ain
st
pro
fita
bil
ity
cy
cli
ca
l p
erf
orm
an
ce
, m
itig
ati
ng
fin
an
cia
l ri
sk
s
Re
fin
ing
an
d P
etr
oc
he
mic
al P
rofi
tab
ilit
yR
efi
nin
g a
nd
Pe
tro
ch
em
ica
l P
rofi
tab
ilit
y
Pe
tro
ch
em
ica
lR
efi
nin
g
Op
ort
un
itie
s f
or
Petr
och
em
ical an
d R
efi
nin
g In
teg
rati
on
Op
ort
un
itie
s f
or
Petr
och
em
ical an
d R
efi
nin
g In
teg
rati
on
Pro
du
ct
Inte
gra
tio
n
!re
finery
str
eam
sa
s feedsto
ck
as feedsto
ck for
petr
ochem
ical p
lants
Ex
am
ple
:naphta
, pro
pyle
n, pro
pane, eth
ane a
nd r
efinery
gas
!petr
ochem
icalstr
eam
sa
s b
lendsto
ck
for
refinin
gopera
tions
Ex
am
ple
: p
yro
lysis
ga
so
line
Pro
du
ct
an
d E
ne
rgy
In
teg
rati
on
!p
rod
uctin
teg
ratio
nan
d p
ow
er
ge
ne
ratio
n
Ex
am
ple
: C
OM
PE
RJ, an in
tegra
ted s
olu
tion
Tech
no
log
y I
nte
gra
tio
n
Exam
ple
: a
uto
mation technolo
gy for
petr
ochem
ical com
panie
s
Inte
gra
tio
n f
or
Sch
ed
ule
d M
ain
ten
an
ce
!S
ynchro
niz
ation
of th
eschedule
d m
ain
tenance p
lans
in o
rder
to o
ptim
ize the
main
tenance e
ffort
s a
nd a
void
pro
duction g
aps
Exam
ple
: p
etr
ochem
ical re
finery
pla
nt
Expand
opera
tions
in
1st
and
2nd
genera
tion
pro
cesses,
incre
asin
g t
he
pro
du
ctio
n o
f p
etr
och
em
ica
ls,
wh
ile a
dd
ing
va
lue
to
the p
roducts
of
the G
roup’s
re
fin
erie
s b
y c
ap
turin
g s
yn
erg
ies
rela
ted to the p
roduction o
f oil,
gas, re
finin
g a
nd p
etr
ochem
icals
Develo
p n
ew
technolo
gie
s f
or
the c
hem
ical
industr
y b
ased o
n
the
technolo
gic
al
evolu
tion
of
petr
ochem
ical
fluid
cata
lytic
cra
ckin
g (
FC
C),
bio
de
gra
da
ble
po
lym
ers
an
d b
iop
oly
me
rs
Petr
och
em
ical S
eg
men
t S
trate
gie
s o
n S
trate
gic
Pla
n -
2020
Petr
och
em
ical S
eg
men
t S
trate
gie
s o
n S
trate
gic
Pla
n -
2020
Refi
nery
Pro
pyle
ne S
pp
lite
r P
roje
cts
Refi
nery
Pro
pyle
ne S
pp
lite
r P
roje
cts
Obje
ctive:
Pro
vid
e p
etr
ochem
ical
feedsto
ck f
or
poly
pro
pile
ne a
nd o
ther
pla
nts
, thro
ugh t
he e
xtr
action o
f th
e p
ropyle
ne f
rom
LP
G s
tream
, addin
g
valu
e to C
om
pany’s
pro
ducts
.
Investim
ents
: U
S$ 6
88 M
M
Sta
rt-u
p:
2008 -
Un
its:
RE
GA
P,
RE
PL
AN
, R
EP
AR
an
d R
EV
AP
Tota
l capacity:
741 k
ty
Pe
tro
qu
ímic
a S
ua
pe
Location: S
uape/P
E;
Capacity: 640 k
ty P
TA
;
Tota
l investm
ent: U
S$ 6
32 m
illio
n;
Ra
w m
ate
ria
l: i
mp
ort
ed
p-x
yle
ne
un
til
20
12
an
d C
OM
PE
RJ f
rom
2013 o
nw
ard
s;
Sta
rt-u
p: 4th
Q 2
009.
Co
mp
an
hia
Tê
xti
l d
e P
ern
am
bu
co
- C
ITE
PE
Location: S
uape/P
E;
Capacity: 240 k
ty P
OY
;
Tota
l investm
ent: U
S$ 3
42 m
illio
n;
Raw
Mate
rial: i
mport
ed P
OY
until
2009 a
nd P
etr
oquím
ica S
aupe
fro
m 2
00
9 o
nw
ard
s;
Sta
rt-u
p: 2th
Q 2
008.Petr
och
em
ical
Pro
jects
Petr
och
em
ical
Pro
jects
CO
MP
ER
J’s
main
purp
ose i
s t
o i
ncre
ase t
he p
roduction o
f petr
ochem
icals
in
B
razil,
usin
g a
s f
ee
dsto
ck 1
50
th
ou
sa
nd
bp
d o
f d
om
estic h
ea
vy c
rud
e,
the
Ma
rlim
oil
from
Cam
pos B
asin
.
Are
a: 45 m
illio
n s
q. ft.
Location: Itabora
í -
RJ
Investm
ents
: U
S$ 8
.38 b
illio
n
Capacity:
•B
asic
Petr
ochem
icals
: 1,3
00 k
ty e
thene;
70
0 k
ty p
-xyle
ne
; 8
81
kty
pro
pyle
ne
; 608 k
ty b
enzene; 157 k
ty b
uta
die
ne;
•D
ow
nstr
eam
: 800 k
ty P
E;
850 k
ty P
P;
500 k
ty s
tyre
ne;
600 k
ty e
thyle
ne
gly
col; 5
00 k
ty P
TA
; 600 k
ty P
ET
;
Sta
rt-u
p: 2012
Technolo
gy:
Pe
tro
ch
em
ica
l F
CC
– d
ee
p flu
id c
ata
lytic c
rackin
g te
ch
no
log
y
•T
his
te
ch
no
log
y a
llow
th
e p
rod
uctio
n o
f h
ug
e a
mo
un
ts o
f o
lefin
s (
eth
en
e a
nd
p
rop
yle
ne
) a
nd
w
ill e
na
ble
tig
hte
r in
teg
ratio
n be
twe
en
re
fin
ing
a
nd
b
asic
petr
ochem
icals
pro
duction technolo
gie
s
CO
MP
ER
J –
Petr
och
em
ical
Co
mp
lex o
f R
io d
e J
an
eir
o
CO
MP
ER
J –
Petr
och
em
ical
Co
mp
lex o
f R
io d
e J
an
eir
o
CO
MP
ER
J –
Petr
och
em
ical C
om
ple
x o
f R
io d
e J
an
eir
o
CO
MP
ER
J –
Petr
och
em
ical C
om
ple
x o
f R
io d
e J
an
eir
o
PO
LY
PR
OP
ILE
NE
8
50
kta
CO
MP
ER
J L
ocati
on
CO
MP
ER
J L
ocati
on
REDUCQuatt
orGuap
imirim’s AP
A
Islands: Re
donda
andd´Água
Pipelines:
Cabiunas-
REDUC
CENPES
PETROCHE
MICAL
COMPLEX
SÃO GONÇ
ALO’S CENT
RAL DISTR
IBUTION B
ASEINTEG
RATION CEN
TER TRAIN
ING COORD
INATION
CO
MP
ER
J P
rod
ucti
on
CO
MP
ER
J P
rod
ucti
on
Pro
du
cts
P
rod
uc
tio
n(k
ty)
Do
wn
str
ea
m
Po
lyp
rop
yle
ne
850
Po
lyeth
yle
ne
800
Sty
ren
e500
Eth
yle
ne
gly
co
l600
PT
A500
PE
T600
Pro
du
cts
Pro
du
cti
on
(kty
)
Ba
sic
s
Fu
els
Die
se
l535
Na
ph
tha
284
Co
ke
700
Petr
och
em
icals
Eth
yle
ne
1,3
00
Pro
pyle
ne
881
Be
nze
ne
608
Bu
tad
ien
e157
p-X
yle
ne
700
Su
lph
ur
45
CO
MP
ER
J M
ain
Fra
mew
ork
CO
MP
ER
J M
ain
Fra
mew
ork
FE
L 3
Conclu
sio
ns
De
z/0
8
Contr
act
ing o
f th
e I
nte
gra
tor
Oct
/07
End o
f th
e I
nte
gra
tion C
ente
r C
onst
ruct
ion
Oct
/08
FE
ED
Ela
bora
tion
Oct
/08
Acquis
itio
n o
f th
e M
ain
Access A
rea
De
c/0
8
Sta
rt o
f E
mbankm
ent
Mar/
08
*UP
B L
IF
eb/0
9
*Ma
in A
cce
ss R
oa
d L
IA
pr/
09
*345 k
V T
ransm
issio
n L
ine L
IJun/0
9
*Term
inal and P
ipelin
e L
IA
ug
/09
*Subm
arine E
mis
sary
LI
De
c/0
9
AN
P A
uth
orization
Oct
/09
Sta
rt o
f E
PC
s C
ontr
actin
gF
eb/0
9
Expecte
d S
tart
-up
Jun/1
2
Expecte
d F
ull
Opera
tion
Au
g/1
3
*LI – L
icenci
am
ento
de Inst
ala
ções
(Faci
litie
s Lic
ensi
ng)
CO
MP
ER
J S
ch
ed
ule
CO
MP
ER
J S
ch
ed
ule
Ste
pS
tep
2003
2003
2004
2004
2006
2006
2008
2008
2010
2010
2012
2012
2005
2005
2007
2007
2009
2009
2011
2011
2013
2013
Acco
mp
lish
men
t
Bu
sin
ess P
lan
nin
g
(FE
L 1
)
Co
ncep
tual E
ng
ineeri
ng
(F
EL
2)
Basic
En
gin
eeri
ng
(F
EL
3)
Co
nstr
. an
d A
ssem
bly
Un
its S
tart
-up
Co
nc
lud
ed
In p
rog
ress
To
be
sta
rted
UP
B C
on
dit
ion
ing
an
d S
tart
-up F
ull
Op
era
tio
n
Benefits
fo
r P
etr
obra
s,
addin
g
valu
e
to
the
supply
chain
, captu
ring
synerg
ies
rela
ted
to
both
segm
ents
and
follo
win
g
a
glo
bal
trend
of
upstr
eam
inte
gra
tion a
mong larg
e c
om
panie
s;
Te
ch
on
olo
gic
al ch
alle
ng
es w
ith
th
e u
se
of
he
avy c
rud
e o
ils fo
r petr
ochem
ical purp
oses, usin
g innovative
Pe
tro
ch
em
ica
l F
CC
te
ch
no
log
y,
de
ve
lop
ed
in
tern
ally
an
d a
do
pe
td a
t C
OM
PE
RJ,
inte
gra
tin
g r
efin
ing
opera
tions a
nd the p
roduction o
f basic
petr
ochem
icals
;
Str
en
gth
en
ing
o
f B
razili
an
P
etr
och
em
ica
l In
du
str
y,
pro
mo
tin
g
tra
inin
g,
technolo
gy d
evelo
pm
ent, e
mplo
ym
ent and incom
e for
the c
ountr
y.
Mo
tiv
ati
on
fo
r P
etr
oc
he
mic
al-
Re
fin
ing
In
teg
rati
on
Mo
tiv
ati
on
fo
r P
etr
oc
he
mic
al-
Re
fin
ing
In
teg
rati
on