Energy industry already has R$800bn in investments lined up

Petroleum, natural gas, and biofuel projects already have around R$800 billion in guaranteed investments until the end of the next decade, thanks to plans previously announced or hired by the government since May 2016, says Márcio Félix Bezerra, the area’s secretary at the Mines and Energy Ministry. He thinks it could go as high as R$1.3 trillion with new projects yet to be tendered. The ministry hopes to announce a new refinery project close to the year-end with capacity to process up to 250,000 barrels a day. Maranhão and Ceará are competing for the project, which would have a R$15 billion price tag according to Mr. Bezerra.

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