Petrobras confirms plans to double biofuels production by 2015

Biofuels Digest
Jim Lane February 14, 2011

In Brazil, state oil giant Petrobras confirmed in a Wall Street Journal interview that it will spend $3.5 billion over the next four years to double its biofuels output. Petrobras launched its biofuels unit, Petrobras Biocombustivel, in 2008.

Last October, the group agreed to a $1.2 billion deal to buy as much as 580 million gallons of ethanol from Açucar Guarani during the next four years. Petrobras already agreed at the end of April to buy 45.7% of the company from its French parent Tereos over the next five years.

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