Companies see impact of cheap Petrobras gas on ethanol industry

04/4/2013 | Bloomberg

Brazilian state-run oil company Petrobras is restraining prices for alternative fuels and blocking ethanol investments in Brazil by increasing imports of cheap gasoline. According to estimates, the oil producer will import as much as 6.74 billion gallons of gasoline by 2020, a nearly sevenfold increase from 2012. Some sugarcane companies have closed facilities and won't invest in new capacity until they are sure that ethanol will play a bigger role in Brazil's energy supply.

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