Petrobras to increase ethanol production in Brazil
Date added: 9th May, 2011 at 10:04
(view all articles from May, 2011)
Categories: Natural Resources
Those looking to make an investment in Brazil may be interested to know that state-owned energy company Petrobras is to up its ethanol production.
According to the Renewable Fuels Association, Latin America's largest economy was the source of over 6.9 million gallons of the fuel in 2010 and that may be set to rise.
Brazil's energy minister Edison Lobao told reporters that the company will up its production of the commodity.
According to AFP, the politician stated: "We are going to make rapid advances … Petrobras will be transformed into an important factor in the supply and pricing of ethanol."
The firm has been told to triple its national share of the production of the fuel from five to 15 per cent, which AFP explained will mean its output will be higher than any other company by 2017.
Ethanol may be an important commodity for investors to keep an eye on, as the fuel is widely used to power cars in Brazil.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of opportunities for investment in Brazil.
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