Brazil’s competition watchdog greenlights BP and Copersucar’s ethanol trading JV

In Brazil, the competition watchdog Cade ruled that the proposed joint venture between BP and Copersucar to own and operate a recently built ethanol storage complex in the city of Paulínia on a 50/50 basis would not negatively impact the domestic ethanol or storage market so has given the green light for the deal to go forward. The JV announced in November includes 10 ethanol tanks capable of storing 180 million liters at a time with an annual flow capacity of 2.3 billion liters.