Details of the state oil giant's Investment plan emerged this week. The subsidiary was created in 2008, and deals with biofuels projects domestically and abroad. Petrobras itself--not the subsidiary--continues to do standalone ethanol trades abroad, and it distributes ethanol domestically, but the company has never been involved in ethanol production.
The subsidiary plans to invest about $2.8bn between 2009 and 2013; $400,000 will go to infrastructure projects; $520m will go to research; about $1.8bn
