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1ER CONGRESO INTERNACIONAL DE BIOCOMBUSTIBLES The Brazilian Experience on Biofuels Luthero Winter Moreira Downstream Area Guadalajara, Mayo 07-08, 2008

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Page 1: Luthero Winter- Brasil

1ER CONGRESO INTERNACIONAL DE BIOCOMBUSTIBLESThe Brazilian Experience on Biofuels

Luthero Winter MoreiraDownstream Area

Guadalajara, Mayo 07-08, 2008.

Page 2: Luthero Winter- Brasil

The presentation may contain forecasts about future events. Such forecasts merely reflect the expectations of the Company's management. Such terms as "anticipate", "believe", "expect", "forecast", "intend", "plan", "project", "seek", "should", along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein. The Company is not obliged to update the presentation/such forecasts in light of new information or future developments.

Disclosure

Page 3: Luthero Winter- Brasil

Fuel Ethanol Program Evolution

Ethanol: 30 Years of Experience

Program for Oil Imports Reduction Environmental Benefits

70’s 80´S 90´S

EthanolProgram

Implanted(BLENDS)

Gasohol and Ethanol Cars(2nd oil shock)

Program of Emission Control

(PROCONVE)

Gasohol and Flex Fuel

Cars

00´S

Cellulosic Ethanol andRenewableHydrogen

Future

Page 4: Luthero Winter- Brasil

Original drivers were energy security and economic attractiveness.

Today environmental benefits are also a consideration.

CNG

ETHANOL

GASOLINE

Source: MME, BEN 2006

120000

140000

1976 1980 1984 1988 1992 1996 2000 2004

In this period, the use of ethanol avoided 644 million tons of CO2 emissions.

1972

Brazil is the 1st country to get benefits from Ethanol

Fuel demand for Otto Cycle Vehicles

160000

10000

80000

60000

40000

20000

01000

BEP

Accumulated effective economy:1 billion boe ~US$ 52 bi

Page 5: Luthero Winter- Brasil

A Brief History of Ethanol and Petrobras by the End of Oil Monopoly

1976/1977- PB creates the first task force to study

blending operations- PB starts to convert storage tanks and

tankers for ethanol transportation

1982/1983- PB broadens its scope and encompasses internal market as well as international market for ethanol- PB concludes coastal shipping plans for ethanol

1986/1997- PB issues over 130 papers and studies on all aspects of ethanol

handling and distribution

- PB consolidates over 40 internal procedures related to ethanol

handling

1978/1979 - PB starts to export fuel ethanol - The first 35 PB service station pumps for ethanol are installed (SP and RJ)

1980/1981- PB develops LUBRAX, the first lubricant for ethanol cars - PB is appointed responsible for handling the safety stock of ethanol - PB starts to produce ethene from ethanol

Source of ethanol production data: UNICASource of Petrobras developments: PETROBRAS

1973OIL SHOCK

Page 6: Luthero Winter- Brasil

A Brief History of Ethanol and Petrobras after the End of Oil Monopoly

1997- Creation of Petrobras Transporte and end of PB monopoly in the Brazilian oil

market

1998/2001-The Brazilian market starts to adjust itself to the new rules

2001- After a steep drop, the price of oil

reaches its lowest point

2003- The first contracts to follow the new rules established in 1997 for ethanol transportation in multi-product pipelines are signed

Source of ethanol production data: UNICASource of Petrobras developments: PETROBRAS

1997/2007- PB issues over 80 new papers and studies on all aspects of ethanol handling and distribution- PB updates its internal procedures related to ethanol handling, including new technologies for Pipeline Integrity Management and dye handling

2005- Petrobras Transporte converts in 15 days 80,000 m3 from diesel to ethanol. It’s the first increase in storage capacity since 2003- Petrobras Transporte has to adapt it’s logistics to handle the dyed ethanol. From that point on, there would be 3 different specifications of ethanol in the PB system

Page 7: Luthero Winter- Brasil

North and Central America

45.8%

Europe

9.2%

South America

32.6%

Asia & Africa

12.4%

Estimated Ethanol Production in 2008 – 70.5 Billion Liters

Brazil32%

More than 75% of all ethanol is produced by Brazil and USA. Brazilian exports in 2007: 3.5 billion liters. World ethanol consumption is 3.7% of gasoline market. Increasing ethanol blending in the world to 10% would represent 187 billion liters.

Source: F.O.Licht

Page 8: Luthero Winter- Brasil

Nigeria / South Africa :: Petrobras is providing technical cooperation in logistics and blending know-how.

Japan :: Recently, Petrobras has incorporated Brazil-Japan Ethanol Inc. (Joint Venture of Petrobras and Japan Alcohol Trading);

:: The Company will import and distribute Brazilian ethanol in Japan;

:: Development of technical and commercial solutions for a reliable, long term supply of ethanol to the Japanese market;

:: Petrobras intends to introduce fuel ethanol into one of the most complex and important energy markets in the world:

• ethanol for power generation,

• fuels distribution in Japanese market,

• logistics for distribution of ethanol in Japan and other Asian markets.

Petrobras Partnerships to Introduce Ethanol as a Fuel

Page 9: Luthero Winter- Brasil

Research on lignocellulosic ethanol (2nd generation biofuels) using sugar cane bagasse as raw material:- Pilot plant start-up: 4thQ 2007;- Demonstration plant start-up: 3rdQ 2010;- Property of process (patent already issued).

HBIO: process of crude oil refining that uses vegetable oils as raw material to obtain a cleaner diesel oil by hydrogenation of a blend of diesel and vegetable oil.

Biodiesel: research on new raw materials, improvement of industrial process, quality of product, and tests with engines.

R&D - Petrobras Projects on Biofuels

Page 10: Luthero Winter- Brasil

Stages Petrobras’ Technology Evolution

2006 - 2010 2011 - 2015 2015 - 2020

Large-scale deployment

Technology implementation (1st industrial unit)Demonstration (Prototype unit)

R&D (including pilot plant)

HBIOHBIO BiodieselBiodiesel

Lignocel. Ethanol Lignocel. Ethanol

Summary – Petrobras’ Technological Roadmaps on Biofuels

Page 11: Luthero Winter- Brasil

Renewable EnergyBusiness Strategies

2008-2012 Investments 2012 Target

Biodiesel Plants Availability of 938,000 m3/year

H-Bio (Bio-Refining) Vegetable oil Processing 1.6 million m³/year

Installed Capacity of Generation of Electric Power

from 365 MW Renewable Sources

Ethanol pipelinesExport of 4.7 million m³/year

of Ethanol

Aeolic Energy

29%

46%

21%

4%

Biofuels

Pipelines and Ethanol Pipelines

Others

H-Bio

US$ 1.5 billion Investments

Total avoided GHG emissions: 3.93 MM tons CO2 equivalent

Ethanol Project Vessel

Solar Energy

Other Sources of Renewable Energy

Page 12: Luthero Winter- Brasil

Petrobras will continue to invest on: development of international markets for ethanol, improvement of Brazilian export infrastructure, and R&D of new production technologies (lignocellulosic process and BTL).

Petrobras’ investment on the development of feasible production technologies of 2nd generation biofuels will assure, in the long-term, the regular supply of renewable fuels, in a fully sustainable manner – regarding economical, environmental and social aspects – along the production chain.

In summary, Petrobras’ investments on biofuels contribute to reduce emissions of fossil fuels, generating environmental benefits and increasing social inclusion by creation of jobs in rural areas.

Final Comments

Page 13: Luthero Winter- Brasil

Vision 2015

Petrobras will be an integrated energy company with a strong international presence and a leading force in Latin America, working with a focus on profitability and social and environmental responsibility.