News International Sugar Journal

Petrobas to invest $570m for ethanol acquisitions by 2015 [Registered]

Brazil’s state-led oil company Petrobras plans to spend $570m over five years for ethanol-industry acquisitions, about a third of its planned biofuel investment during the period, a company official said recently. Petrobras, Brazil’s largest ethanol purchaser and third-largest producer, expects to more than triple its sugar-cane ethanol output by the end of 2015 and double its share of the Brazilian ethanol market to 12%. The expansion aims to meet booming demand for the ethanol, which provides more than 40% of the fuel used by Brazil’s cars and other light vehicles. Miguel Rossetto, head of Petrobras Biofuels, said the $570m, 30%…

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