In Brazil, Petrobras may cut pump prices for gasoline and diesel for the first time since September 2015 to bring them inline with international competitors but doing so will put a major squeeze on ethanol producers. The state-owned company’s capacity to set prices has been liberated, allowing it to change prices from one day to […]
In Brazil, Petrobras announced it will refocus its energies on the production of oil products and divest other industries where it participates including biofuels, if the market shows interest to buy its assets. The company owns significant minority shareholding in sugarcane ethanol plants with France’s Tereos International, run locally as Guarani. Petrobras has been reeling […]
In Brazil, Petrobras’ new CEO says the days of government-subsidized gasoline will soon be over, boosting demand for flex-fuel vehicles and E100 hydrous ethanol to fuel them. Though the move is likely to create inflation pressure, the main reason for having continued the failed policy for slow long, it should stimulate demand for both domestic […]
In Brazil, an internal struggle between Petrobras’s board and management is wreaking havoc in global sugar markets and has the ethanol industry on edge as the two sides fight over lowering gasoline prices or not. The board wants to keep prices where they are while management wants to cut prices to counteract falling demand that […]
In Brazil, Petrobras has instead of selling off its ethanol assets in a fire sale meant to help secure cash to pay off mounting debts has raised its shareholding in Guarani to 45.9% with a $69.7 million capital injection. The investment was part of an original agreement to boost shareholding and was agreed on the […]
In Brazil, hydrous ethanol prices are expected to rise 3% as a result of Petrobras’ move to raise gasoline and diesel prices 6% and 4% respectively. Even with higher prices, the amount of ethanol sold is expected to also increase, boosting the overall national consumption of ethanol during the next 10 to 15 days before […]
In Brazil, Petrobras announced it will raised gasoline prices 6% and diesel prices 4% which is expected to have an immediate positive impact on ethanol prices as demand shifts away from more expensive fossil fuels. Though the policy shift wasn’t intended for the sole benefit of the sugarcane industry, it will benefit anyway in the […]
In Brazil, despite looking to sell off the majority of its ethanol assets in nothing less than a fire sale, Petrobras’ CEO says the company still believes ethanol is key for the company to reduce its dependence on foreign oil. He said Petrobras is keeping fuel prices in line with market forces.
In Brazil, Petrobras hasn’t managed to secure a buyer willing to pay the asking price for its 42.9% stake in Guarani’s sugar and ethanol mills. Tereos, who owns the majority of Guarani, has offered $200 million but Petrobras says it’s not enough. The asset is on the company’s books as being worth $407 million, plus […]
In Brazil, Petrobras is seriously looking to offload some of its ethanol production assets in a shock move that would leverage cash to service some of its overwhelming debt and offshore drilling activities. Potential investors have apparently already been shown some of the assets that could be on offer. The company would not be looking […]
