In Brazil, Monitor Mercantil reported that Brazilian oil company Petrobras is holding talks with sugarcane and corn producers to create a joint venture to operate in the ethanol market.
According to the executive director of Energy Transition and Sustainability, Mauricio Tolmasquim, Petrobras understands that gasoline is showing a tendency to lose share among light fleet fuels. “Gasoline will lose market share over time. Ethanol will grow by 2040. We want to remain big. We will do this by entering our competing product, ethanol. We will lose the gasoline market and remain with ethanol,” said Tolmasquim.
Preliminary calculations indicate a production capacity of 2 billion liters of ethanol per year, according to the report. “There is no study, there is no target, but, let’s say, it could eventually reach that,” the executive added.
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Tags: Brazil, ethanol, Petrobas
Category: Fuels
