Petrobras creates biofuels unit

By | April 15, 2008
State-controlled Brazilian oil company Petrobras SA has created a subsidiary to coordinate biofuels efforts, establishing a work group that will gather Petrobras biofuels efforts under one management umbrella. The new subsidiary, launched March 3, will handle biodiesel input acquisition and processing, as well as ethanol production, and coordinate production-chain activities in Brazil and abroad, the company said. It will have invested $1.5 billion in biofuels by 2012. Biodiesel and ethanol marketing and logistics will remain under its "downstream area's" responsibility.
 
 
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