Petrobras to increase petrochem investment by 30% through 2010

Petrobas -Brazil's state oil company Petrobras, will increase investment in petrochemicals by 30%, hiking the investment amount to US$4.3 bln from the previous plan. Spending on biofuels will rise 25% to US$1.5 bln. These investments form part of the US$112.4 bln earmarked by Petrobas to be spent through 2012 - a 29% increase over its previous four-year investment plan.