This excerpt taken from the PBR 20-F filed May 22, 2009.
Major Refinery Projects
In addition to the new projects mentioned above, our 2009-2013 Business Plan includes investments in several key refineries, primarily for hydro-treating units to reduce sulfur and meet international standards and coking units capable of converting heavy oil into lighter products. These investments will allow us to begin offering diesel in metropolitan areas containing a maximum sulfur content of 50 parts per million, significantly lower than current levels in 2009. Of our total U.S.$18.4 billion in planned refinery investments for 2009 to 2013,
U.S.$13.2 billion will be used for improving diesel and gasoline quality and U.S.$4.6 billion for delayed coking units to convert fuel oil into lighter fractions. The principal planned investments are: