Brazil sees no need to import gasoline-secretary

Reuters Africa
Fri Nov 5, 2010 1:27pm GMT

BRASILIA Nov 5 (Reuters) - Brazil's carry-over stocks of ethanol are expected to be double the size they were a year ago, when Brazil was forced to import gasoline, which will likely avert the need to do so again, an energy official said late on Thursday.

In early 2010, the state-run oil company and refiner Petrobras (PETR4.SA: Quote) was forced to import gasoline after ethanol prices spiked on low supplies.

The secretary of oil, natural gas and renewable fuels for the energy ministry, Marco Antonio Almeida, said that ethanol stocks in April 2011 would total 1.2 billion liters, up from 600 million a year earlier.

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