In Brazil, despite looking to sell off the majority of its ethanol assets in nothing less than a fire sale, Petrobras’ CEO says the company still believes ethanol is key for the company to reduce its dependence on foreign oil. He said Petrobras is keeping fuel prices in line with market forces.
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In Brazil, Petrobras hasn’t managed to secure a buyer willing to pay the asking price for its 42.9% stake in Guarani’s sugar and ethanol mills. Tereos, who owns the majority of Guarani, has offered $200 million but Petrobras says it’s not enough. The asset is on the company’s books as being worth $407 million, plus […]
In Brazil, Petrobras is seriously looking to offload some of its ethanol production assets in a shock move that would leverage cash to service some of its overwhelming debt and offshore drilling activities. Potential investors have apparently already been shown some of the assets that could be on offer. The company would not be looking […]
In Brazil, Petrobras expects greater ethanol and biodiesel use to keep Q2 fuel imports flat against the previous quarter at 150,000 b/d of gasoline and about 50,000 b/d of diesel. More biofuel use thanks to recent increases in ethanol and biodiesel mandates should continue to keep control over imports but demand for ethanol remains unclear.
In Brazil, Petrobras Biofuels will begin producing biodiesel from fish oil, buying 15 metric tons per month of fish waste from around 300 fishing families. Production will take place at the company’s facility in Quixadá, near Ceará. By the end of the year the company expects to purchase fish waste from 600 families.
In Brazil, Rio Grande do Norte’s first biodiesel plant has opened in Guamaré. Petrobras has invested more the BRL5 million in the facility that will use a wide range of feedstocks from virgin oils produced by small farmers under the social seal program to used cooking oil brought in from collection points that will be […]
In Brazil, UNICA says that Petrobras boosting gasoline prices by 3% won’t have a significant impact on demand for ethanol as pump prices will only go up by about 1.5%. UNICA’s secretary general says that the modest move in prices shows that the government continues to care more about Petrobras than for the ethanol industry […]
In Brazil, Petrobras is teaming with Embrapa to develop sugarcane varieties that will be successful in temperate climates, especially in Rio Grande do Sul state with the aim of producing ethanol there. Currently that state imports 100% of its ethanol consumption from other states.
Petrobras is a state-owned (partly) owner/operator of fossil and renewable energy production and distribution, including both sugarcane ethanol and biodiesel operations. Announced that it was not seeking to acquire distressed ethanol companies but would establish partnerships where appropriate to support development of the national ethanol industry. According to Petrobras management, the state oil giant would […]
In Brazil, Petrobras has signed a $2.33 million research deal with EMBRAPA to develop better cane varieties for Rio Grande do Sul state and develop efficient production systems to allow the region to participate in ethanol production. The agreement includes technical support from ANP’s research arm Cenpes and will be funded by Petrobras.