Ethanol to take over 75 pct Brazil car fuel market

Reuters
Wed Jun 3, 2009 12:01pm
By Roberto Samora

SAO PAULO, June 3 (Reuters) - Sugar cane-based ethanol fuel is expected to take over 75 percent of Brazil's light vehicle fuel market, shrinking gasoline's stake to 17 percent by 2020, the head of the state-run oil company said.

The flex-fuel engine technology, which is now included in about 90 percent of all new car sales, is the reason that Brazilians are buying more ethanol fuel, said Jose Sergio Gabrielli, chief executive of Petrobras(PETR4.SA) (PBR.N), Brazil's state-run oil company.

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