Petrobras Signs $1.23 Billon Ethanol Supply Deal

DomesticFuel.com
Posted by Joanna Schroeder – October 25th, 2010

Brazil’s largest state-owned energy company made another play today to become a world leader in biofuels. Petrobras announced a $1.23 billion deal with Tereos International’s Brazilian Branch, Acucar Guarani, to supply up to 2.2 billion litres of sugarcane ethanol to Petrobras’ fuel distribution subsidiary, BR, over the next four years.

Petrobras said in a statement today, “The contract ensures commitment in the supply to BR, access for Guarani to BR’s distribution system for part of its hydrated and anhydrous ethanol production, besides greater synergy between production, marketability and logistics.”

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