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Brazil aims to become major oil player

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Brazil aims to become major oil player


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.

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