Petrobras’ distribution arm looking to set up ethanol, natural gas and electricity trading

In Brazil, Reuters reports that local newspaper Valor Economico says Petrobras’ fuel distribution arm BR Distribuidora is looking to widen its product offering to clients by exploring the creation of trading desks for electricity, natural gas and ethanol. The distribution arm saw 30% of its shareholding sold in a share offering three months ago, raising $2.12 billion, privatizing the country’s largest fuel distributor. Riddled by debt and the parent company’s controversial dealings and legal scandals, BR Distribuidora is looking to cut costs, sell off non-core assets and review old contracts.