Petrobras and Mitsui eye biofuels goal

Brazil’s state-run giant Petrobras has formed a joint venture with Japan’s Mitsui Group in a bid to increase the business sustainability of its biofuels segment.

The venture, named Participacoes Nippo Brasileira em Complexos Bioenergeticos SA, aims to promote and sell Brazilian sugarcane ethanol in world markets with a focus on supplying ethanol to Japan. The demand for industrial ethanol in Japan is thought to reach 300 million litres per year. Mitsui and Petrobras also have another joint ethanol project in Brazil. The ethanol venture was signed in February to develop the conceptual design for a 1150 kilometre ethanol pipeline to be built between Senador Canedo municipality in Goias State and Paulinia in Brazil.

Read More