BP and Bunge complete formation of Brazilian JV

In Brazil, BP and Bunge announced that they have completed the formation of BP Bunge Bioenergia, the Brazilian bioenergy joint venture that combines their Brazilian bioenergy and sugarcane ethanol businesses.

BP Bunge Bioenergia is now the second largest operator by effective crushing capacity in the Brazilian bioethanol market. Mario Lindenhayn from BP will be the executive chairman of BP Bunge Bionergia and Geovane Consul from Bunge will be chief executive. BP and Bunge have equal representation on the board of directors of the company.