News International Sugar Journal

Brazil – Petrobras backs out of a large scale ethanol pipeline project [Registered]

Petrobras, Brazil’s state-controlled oil producer, is backing out of a a multibillion-dollar project to build a 1,300-kilometer (808-mile) ethanol pipeline it co-owns, one of the project partner recently confirmed. Cosan, the leading sugar producer in Brazil, whose biofuels joint-venture Raizen is one of the six companies investing in the pipeline, said Petrobras recently informed it of the decision to exit the project. Petrobras, like Raizen, has a 20% stake in Logum Logistica SA, a company formed last year to build and operate the pipeline and associated storage and distribution facilities. Petrobras has yet officially to comment. A Logum official told…

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