Brazil Property News: Petroleo expands biofuel operations




29th July 2008 04:57


Petroleo Brasileiro SA is to open a new biofuels unit as it pays heed to the global trend for renewable energy, which may interest those drawn to property for sale in Brazil due to the country's economy.

According to Bloomberg, the new unit will oversee five years of investment worth $1.5 billion (£750 million) in the production of ethanol.

The new unit's head, Alan Kardec Pinto, told the news provider that the firm hopes the Petrobras Biocombustivel venture will achieve an annual output of 4.75 billion litres by 2012.

Along with Japanese firm Mitsui, Petrobras Biocombustivel has purchased a ten per cent share in a mill in the centre-south of Brazil, with plans to oversee three other plants which create fuel from soybeans, sunflower seeds and other vegetables.

The news provider also revealed that the firm exported around 800 million litres of ethanol last year, which it bought from other suppliers - but now plans to stock most of its exports from mills in which it owns stakes.

Earlier this month, Petrobras announced it had hit a production high for June, producing 1,867,000 barrels of oil a day - a 4.2 per cent increase on the year before.


Follow uv10 on Twitter   



Related News



News Archive


How to invest in Brazilian property

When it comes to property investment, the early bird really does catch the worm.


uv10's web site is designed to help and will provide you with the following invaluable information:



To find out more about investing, and have the chance to be one of the first to invest in this exciting and dynamic market, fill out our online form and we'll be in touch to answer all your questions.



Brazil property with uv10
Property in Brazil
Land in Brazil
Brazil - property buying made easy
Brazil Property Investment
Why buy now in Brazil
Natal, Brazil
Pipa, Pipa Beach, Praia do Pipa, Brazil
questions and answers about property in brazil
uv10 Brazil Property in the news
Brazil Property News
Contact uv10
About Us
Register for the Brazil Property Guide
Name:
Email:
Phone:
Your message: