Brazil’s president says she wants the country to become a major oil producer and processor.
Dilma Rousseff’s comments came as she toured the construction site of a new refinery near the city of Recife in the north east of Brazil.
The country currently imports many oil-based products and sells them into the market at below cost.
The subsidies have damaged the performance of state-run oil company Petrobras.
The refinery is expected to be online by November 2014.