Brazil to invest heavily in energy industry in the last 10 years

Xinhua Brasilia, May 4 (Xinhua Chen Weihua Zhao) The Brazilian Energy Research Institute published a study on 4th, said that from this year to 2019, Brazil will invest at least 951 billion reais (about 540 billion U.S. dollars) to develop energy industry.　　70% of these investments will be used for oil and gas exploitation, with funds for exploration and exploitation reaching $287 billion trillion, with the aim of increasing Brazilian oil production by one-fold to 5.1 million barrels a year by 2019.　　In addition, Brazil plans to build 5 refineries in the coastal area, with a total investment of $85 billion, including a joint venture between Petrobras and Venezuela's Abreu Lima refinery. Brazil hopes to become a exporter of diesel and other oil derivatives from 2014 onwards, the report said. By 2019 Brazil's natural gas production will rise by 67% per 1.　　1.6 billion cu m.　　In the power sector, Brazil plans to invest 121 billion of billions of dollars, including new power stations and transmission lines, to prevent a recurrence of massive blackouts and ensure economic growth. In the green energy sector, Brazil plans to invest 38 billion of dollars to develop biodiesel and sugarcane ethanol, and to achieve a 64 billion litres of biofuel production by 2019.