Petrobras projects ethanol exports to China

Ethanol production projects in Brazil, in a partnership between Petrochina and PBio, in addition to projects aimed at exporting ethanol to China, in an association between Petrochina and Petrobras.

Petrobras, its subsidiary Petrobras Biocombustível S.A. (PBio), and Petrochina International Company Limited, signed a six-month Memorandum of Understandings (MOU) aimed at undertaking joint studies to assess the technical and economic feasibility of developing ethanol production projects in Brazil, in a partnership between Petrochina and PBio, in addition to projects aimed at exporting ethanol to China, in an association between Petrochina and Petrobras.
 

Because of the need to adopt a blend of ethanol in gasoline in a larger portion of the Chinese territory and on account of the lack of conditions to supply such a market solely with local production, China intends to not only pursue supplies but also invest in its own production of the product in Brazil. In this regard,


Petrochina considers Petrobras as the natural partner for such ventures on account of the excellent trade relationship between the two companies and because of possibile synergies.