Despite claiming that there will be few new investments for ethanol in coming years, the president of Petrobras, Graça Foster said this Monday (25/6), that a larger volume ethanol available by Petrobras and other companies in the sector would help in negotiations with the government for the increased participation of ethanol in gasoline. The company supports increased blending of ethanol in gasoline to reduce the import of biofuels.
According to the president, the goal of producing ethanol by the company is maintained and said the ethanol market is very important because it has a lot of synergy with the activities of the company. “The more ethanol there is, the more the government can guarantee supply. We have the goal of production and market share, but there must be a project,” he said.
According to the Business Plan 2011-2015 Petrobras, released last year, the company’s supply of ethanol would reach 5.6 million cubic meters in 2015, an increase of 273% over the production of 1.5 million cubic meters in 2011. Together, the unit of Petrobras, called PBIO, and the partners must have market share of 12% in the ethanol market.