Brazil’s Petrobras to invest $2.8 billion in ethanol, biodiesel

In Brazil, Petrobras Biocombustível announced that it will invest $2.8 billion in biodiesel and ethanol business between 2009 to 2013, an 87 percent increase from its previous plan. The company aid that, as part of the total investment, it would channel $400 million for infrastructure and $520 million for R&D.

80 percent of the funds will be invested in ethanol, with the remaining 20 percent invested in biodiesel. The company has set production targets of 169 Mgy of biodiesel by 2012 and 500 Mgy of ethanol by 2013.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Petrobras, ETH Bioenergia, pursuing Brazil’s Brenco in ethanol realignment

In Brazil, Petrobras confirmed yesterday that it has entered into talks of partnership and/or investment with Brenco, the Brazilian ethanol producer that counts AOL founder Steve Case, Vinod Khosla an...

Brazil’s Petrobras enters biodiesel market with 41 million gallon sale; will market 100 million gallons in first half of 2008

In Brazil, Petrobras has commenced marketing biodiesel, and said that the company has made sales to date of 41 Mgy, primarily in Rio Grande do Sul. Petrobras will market a total of 100 Mgy which is...

Brazil’s Petrobras sets 1.2 billion gallon ethanol export target for 2012

In Brazil, Petrobras has set an export target of 1.2 billion gallons for 2012, including both first- and second-generation ethanol. The company linked this export target to its plans for an ethanol pi...

Brazil’s Petrobras to launch 20 new ethanol plants, add 1 billion gallons of capacity

In Brazil, Brazilian state oil giant Petrobras announced plans to develop 20 sugar ethanol plants via multiple partnerships in Goias and Mato Grosso states and a partnership with Japanese trading comp...

Petrobras outlines partnership program to take minority stakes in ethanol production; says will not acquire distressed assets outright

In Brazil, Petrobras announced that it was not seeking to acquire distressed ethanol companies but would establish partnerships where appropriate to support development of the national ethanol industr...

Brazil’s Petrobras, Portugal’s Galp Energia, sign JV for Euro biodiesel production

In Brazil, Petrobras and Portugal's Galp Energia signed a joint venture agreement to develop a capacity of 142 Mgy for biodiesel that will be produced in or exported to the EU. Half of the venture's c...