Petrobras denies $1.75B bid for ETH Bioenergia stake

In Brazil, Petrobras says that it is not bidding $1.75 billion for 40% of ethanol powerhouse ETH Bioenergia despite local press reports to the contrary. The company’s biofuels head said it is happy with its current partnerships which will will end 2010 with production of about 1 million cubic meters of ethanol, with plans to boost output to 2.6 million cubic meters by 2014,

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