Brazil Directs Petrobras To Step up Ethanol Production

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 an 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. 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 from...

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