Partnership between Portugal’s Galp and Brazil’s Petrobras to produce half of Portugal’s biodiesel

7 May 2007

Brasilia, Brazil, 7 May – half of the 600,000 tons of biodiesel that Portugal requires every year will be produced in Brazil, the chairman of Portugal’s Galp Energia, Manuel Ferreira de Oliveira, said Friday after a meeting in Brasilia with the country’s president Luiz Inacio Lula da Silva.

“It is an ambitious project that is good for Petrogal and for Petrobras. We want to produce 300,000 tons of biodiesel from Brazilian crops, which corresponds to 50 percent of Portugal’s needs in this sector,” said Ferreira de Oliveira, without giving the value of the investment.

The general terms of cooperation with Petrobras in this area, which are expected to be defined in this half of the year, will be announced on May 18, in Lisbon.

At this time a protocol between Petrogal, Petrobras, Partex and the Portuguese government will also be signed for deepwater surveys in Portugal.

The Brazilian state company is the technological leader for deepwater (over 300 meters deep) and ultra deepwater (over 2,000 meters).

The chairman of Galp Energia said that the Portuguese market would begin to be supplied with Brazilian biodiesel in 2010/2011. (macauhub)