Rio De Janeiro: Brazil’s state-run oil company has signed a memorandum of understanding with India’s Bharat Petroleum Corp for the sale of ethanol and biodiesel.
Petroleo Brasileiro SA, or Petrobras, hopes to export ethanol to India and to other overseas markets, the company said in a statement on 30 August.
Bharat Petroleum plans to blend ethanol — made from Brazilian-grown sugar cane - into the gasoline it sells. The company also intends to develop opportunities in international ethanol sales, Petrobras said.
Petrobras doesn’t produce ethanol itself but has become increasingly active in ethanol exports. In 2008, it plans to export 500 million liters of ethanol.
Brazil is the world’s biggest exporter of ethanol and its second-largest producer after the US.