In Brazil, Zack’s Equity Research reports that Petrobras is seeking to sell off its entire PBIO biofuels division but its 50% and 8.4% stakes in the BSBios and Bambui Bioenergia plants are part of different negotiations. PBIO owns three biodiesel facilities with combined installed capacity of 580,000 cubic meters, making it one of the largest […]
In Brazil, Correio Braziliense reports Petrobras will increase gasoline prices at the refinery for the seventh consecutive time. The increase will be 3% while diesel will also be increased by 6%. The new prices will take effect on July 2. Before the new readjustment, gasoline prices were still 20% lower on the year, according to […]
In Brazil, the Oil & Gas Journal reports that Petrobras will begin production tests at its Presidente Getúlio Vargas (REPAR) refinery in Araucária, Paraná where it is installed a 208,000-b/d renewable diesel unit. The unit uses Petrobras’ proprietary H-Bio process to produce HVO. Even though the company is starting production tests, it can’t yet market […]
In Brazil, Brazil Energy Insight reports Petrobras Biocombustível S.A. (PBio) is finalizing the sale of its ownership in BSBios Indústria e Comércio de Biodiesel Sul Brasil S/A (BSBios). BSBios owns two biodiesel plant, one in Rio Grande do Sul with a production capacity of 414,000 cubic meters per year and one Paraná with a production […]
In Brazil, Reuters reports that for the second time in two weeks, Petrobras has cut gasoline prices in line with falling oil prices globally. The cut announced Wednesday is 12% while last week saw a first cut of 9.5%. Brazilian sugar mills have been benefiting from record high prices for ethanol thanks to high gasoline […]
In Brazil, Reuters reports that “Brazil’s state-controlled oil company Petrobras cut gasoline prices at refineries in the country by almost 10% on Thursday, the first cut since last week’s oil price collapse, a move that could boost sugar production and reduce ethanol output.” The oil company, which has a near refining monopoly in Brazil, reduced […]
In Brazil, Petrobras reports that its wholly owned subsidiary Petrobras Biocombustíveis S.A. (PBio) has started the opportunity disclosure phase (teaser) related to the joint sale of all its shares in BSBios Indústria e Comércio de Biodiesel Sul Brasil S/A (“BSBios”). PBio holds a 50% stake in BSBios and will sell it together with its partner, […]
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 […]
In Brazil, Reuters reports that Petrobras is not yet clear how much of the oil price increase on international markets resulting from the attack on Saudi oil production over the weekend will be passed on to consumers. Any increase in price is likely to be good for ethanol demand. Sugar mills are already dedicating around […]
In Brazil, Petrobras signed a contract to sell its 50% stake in Belem Bioenergia Brasil to Galp Bioenergy BV, which holds the other 50% stake in the company. According to the Petrobras press release, the transaction value is R$ 24.7 million (about $6.3 million), which will be retained by Galp until December 2020 for potential […]
