Wednesday, May 20, 2009

Brazil – Petrobras aims to be global bio-fuels player

Petrobras aims to be a global player in bio-fuels, in which it plans to invest $3.3 billion between 2009 and 2013, said the Petrobras Biocombustíveis director, AE Brazil- Financial and Corporate News reports.

Of that total, 80% will be invested in ethanol. According to him, Petrobras is getting ready for "a world without oil" and the company aims to be among the top-five global bio-fuel leaders by the end of 2020. He also said Petrobras has been in talks for a bio-diesel production project in Africa and noted the company has ethanol projects under development in some Latin American countries.

"Petrobras' strategy is to be a global player, with a relevant role in the world markets for bio-diesel and ethanol," said the executive. (19 May 2009)

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