Petrobras ready to close two biofuels acquisitions, confirms goal to be a Top 5 global producer by 2020

In Brazil, Petrobras announced that it expects to close two acquisitions in biofuels, including one ethanol deal with an unidentified seller. The company reiterated that it is not currently in talks with Cosan. Petrobras Biocombustível has previously announced plans to invest $475 million in the biofuels sector this year, and become a top 5 global biofuel producer by 2020 with a total investment program of $2.8 billion between 2009 and 2013.

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