In Brazil, Petrobras’ partner in the Total ethanol mill in Minas Gerais, Turdus Participacoes, has hired Credit Suisse Group to sell the company’s 53% stake in the mill.
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In Brazil, Petrobras expects ethanol production to recover by 2014. Despite that optimism, UNICA says that 14 sugarcane mills have already shut this season due to low yields and rising costs. Together those mills have a combined crushing capacity of 30 million metric tons.
In Brazil, Petrobras plans to buy more ethanol in an attempt to plug the holes in its sinking ship—huge losses as a result of having to import gasoline. Using ethanol could save the company from estimated losses of $375 million caused by a lack of domestic refining capacity that means having to import finished products […]
In Brazil, Petrobras plans to invest $1.05 billion in existing ethanol projects through 2016, including its joint venture with Sao Martinho, Nova Fronteira, as well as with some of its other corporate partners Total and Tereos. Brazilian ethanol exports slipped in June as unseasonal rains impede production.
In South Dakota, KL Energy Corporation announced that it has successfully completed the first phase of the work program under its Joint Development Agreement with Petrobras America, Inc. signed in 2010. To date, all cellulosic ethanol produced from sugarcane bagasse in KLE’s demonstration plant in 2011 has been shipped to Petrobras SA in Brazil. KLE […]
In Mozambique, Petrobras has begun receiving quotes for the equipment needed for the ethanol distillery it is building in the country via sugar producer Guarani, whom it bought 45.7% of in 2010. The company has so far committed to investing $20 million in the 20 million liter per year molasses-based facility.
In Brazil, Petrobras, along with Universidade Federal do Rio Grande do Norte, has inaugurated their joint pilot plant to produce biodiesel from microalgae in Extremoz. Prepartory studies for the project have identified about 10 different species that could be viable for use in the project.
In Brazil, Petrobras and the state of Minas Gerais have signed an agreement, whereby Petrobras will invest as much as $16.2 million to increase their Montes Claros biodiesel facility’s production to 152 million liters per year. This would represent a 40% increase over current production.
In Mozambique, France’s Tereos International and Brazil’s Petrobras have signed an MOU with the country’s oil company Petromoc to study ethanol production and domestic sales. Petrobras has already partnered with Tereos in its 1.2 million metric ton per year sugar mill in Sena.
In Brazil, CEO Jose Sergio Gabrielli of Petrobras said last week at the World’s 20th Petroleum Conference that he predicts all cars in Brazil will soon be running on ethanol. This speculation came amidst oil executive’s forecasts that the world’s energy demand will increase by 50% by 2035 at the Doha, Qatar conference.