Petrobras pulls out of 1,300km ethanol pipeline project

In Brazil, Cosan says that Petrobras has pulled out of the $3.45 billion, 1,300km ethanol pipeline connecting Goias to Sao Paulo and Rio de Janeiro states that the two companies along with four others have been building. Both Cosan and Petrobras have 20% shares in Logum Logistica, the JV company that owns the project.