India’s state oil firms abandon plans for Brazilian ethanol investment, report says

In India, Bloomberg reports that all of India’s state-owned oil refiners have dropped plans to invest in ethanol plant construction in Brazil, citing the economic slowdown as well as concerns over ethanol demand in India. The report says that studies conducted by Indian Oil, among other of the state-run oil companies, showed that ethanol investments in Brazil were viable, including the acquisition of large sugarcane plantations, but the refiners concluded that they would not import ethanol from Brazil.

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