RIO DE JANEIRO, Aug 22: Brazil plans to increase its petroleum refining capacity by building five new refineries, the head of the state-owned oil consortium Petrobras said on Friday.

The goal is to increase the export of oil derivatives, Sergio Gabrielli said.

“The last refinery built in Brazil dates to 1980. Between now and 2017 five new refineries will be built in this country,” Gabrielli told reporters at the company headquarters here. Petrobras exports currently represent between six and seven per cent of the country’s total exports.—AFP