Top Biz News

Brazil, China sign MOU on feasibility of ethanol projects

(Xinhua)
Updated: 2009-12-24 15:52
Large Medium Small

Brazil's State-owned oil and gas conglomerate Petrobras on Wednesday signed a Memorandum of Understanding (MOU) with the Chinese oil giant PetroChina to assess the technical and economic feasiblity of launching ethanol production projects in Brazil.

Related readings:
Brazil, China sign MOU on feasibility of ethanol projects PetroChina's Q3 net profit down 23.2%
Brazil, China sign MOU on feasibility of ethanol projects PetroChina adds 1.5m cu m of oil storage capacity
Brazil, China sign MOU on feasibility of ethanol projects PetroChina in oil sands deal
Brazil, China sign MOU on feasibility of ethanol projects Canada's Athabasca to sell oilsand stake to PetroChina

According to the document, projects of ethanol production in Brazil would be developed in partnership between PetroChina and Petrobras'subsidiary, Petrobras Biofuels (PBio).

Meanwhile, other projects aimed at exporting Brazilian ethanol to China could be carried out through cooperation between PetroChina and Petrobras.

Petrobras said PetroChina deems the Brazilian company a natural partner for such ventures, thanks to their "excellent" trade relationship and because of anticipated synergies between the two companies.
Specials
Column
China Daily E-paper