USTDA SUPPORTS PETROBRAS REFINERY FIRE CONTROL PROJECT

For Immediate Release

RIO DE JANEIRO, BRAZIL (April 16, 2004) – Earlier today, the U.S. Trade and Development Agency (USTDA) awarded a $590,394 grant to Petróleo Brasileiro S.A. (Petrobras) to fund technical assistance for the Petrobras Refinery fire control upgrades, standards and training project.

Mr. Mark M. Boulware, U.S. Consul General in Rio de Janeiro, signed the grant on behalf of the U.S. Government at a ceremony held at the U.S. Consulate.  Mr. Eider Castro de Prudente de Aquino, Director, Supply and Refining at Petrobras, signed on behalf of the Grantee.  Also present at the ceremony were Mr. Jim Cunningham, Principal Commercial Officer at the U.S. Consulate, and Mr. Rui Fausto de Moura, Manager of Safety, Health and Environment at Petrobras.

Petrobras is an integrated, state-owned company active in the exploration, production, refining, commercialization, and transport of oil and its derivatives in Brazil and abroad.  Petrobras currently operates 11 refineries in Brazil and three abroad with a total yield of 1.7 million barrels per day.  Petrobras’ Safety, Health, and Environment Department is seeking to develop a set of uniform standards for fire control systems and training.

The USTDA-funded technical assistance will develop a comprehensive plan to upgrade fire control and safety at Petrobras refineries, recommend fire control standards, and develop a training program for refinery staff.  When complete, the technical assistance is expected to result in the adoption by Petrobras of international best practices through the use of new technologies to protect the environment and human health and safety.

The U.S. Trade and Development Agency advances economic development and U.S. commercial interests in developing and middle-income countries.  The agency funds various forms of technical assistance, feasibility studies, training, orientation visits and business workshops that support the development of a modern infrastructure and a fair and open trading environment.  USTDA’s strategic use of foreign assistance funds to support sound investment policy and decision-making in host countries creates an enabling environment for trade, investment and sustainable economic development.  In carrying out its mission, USTDA gives emphasis to economic sectors that may benefit from U.S. exports of goods and services.