Petrobras to export 850m litres ethanol in 2007

15 May 2007 04:05  [Source: ICIS news]

HOUSTON (ICIS new)--Brazil state-run oil company Petrobras plans to export 850m litres of ethanol in 2007, local media reported on Monday.

The reports said Venezuela, Nigeria and the US would be among the main foreign markets for the company.

In April, Petrobras launched ethanol exports to the US. The company shipped 12m litres for an initial lot and planned to send larger parcel in May, sources said.

The news stories quoted a company executive as saying Petrobras was looking into acquiring ethanol storage tanks in the US for its upcoming shipments.

The company expects its ethanol exports to soar to 3.5bn litres/year by 2011.

The projection is based on sales to Asia, reflecting the association between the Brazilian company and Japanese trader Mitsui, the reports said.

Petrobras could not be reached to confirm the reports.

By: William Lemos
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly