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World News and Views :: Top of the News
Petrobras Steps Up Ethanol Production to Stem Soaring Prices
9:29 AM MDT | April 12, 2011 | Kara Sissell
Brazil’s president Dilma Rousseff has instructed state oil company Petrobras (Rio de Janeiro) to help stabilize ethanol prices by raising production, a two year project that will establish Petrobras as a ethanol pricing regulator, officials say. Oil and gas prices are regulated in Brazil but ethanol is considered an agricultural commodity and regulated only for quality control purposes. Ethanol is a common motor vehicle fuel in Brazil, as well as a raw material for several petrochemical projects, and prices have doubled in the last year. The increase stems...
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