Brazilian companies sign MOU

By | February 09, 2010
Petrobras, its subsidiary Petrobras Biocombustível S.A. (PBio), and Petrochina International Co. Ltd. recently signed a six-month memorandum of understanding. Through joint studies, the companies will assess the economic and technical feasibility of new ethanol production in Brazil and the exportation of ethanol to China, according to Petrobas. China intends to pursue ethanol production on home soil as well as to invest in Brazilian production of ethanol, because it is unable to supply its own market solely with local production.