Page last updated at 18:21 GMT, Friday, 30 January 2009

Petrobas confident oil remains key

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The Brazilian state-controlled energy group Petrobras, is embarking on a $28.6bn spending plan to develop major new oil reserves.

Gabriele de Azevedo, the president and chief executive, told the BBC that the company is also investing $2.8bn to increase the production of ethanol and biodiesel.

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