By Mario Sergio Lima and Carla Simoes - Jun 28, 2012 10:01 PM CT
Brazil is considering a request by Petroleo Brasileiro SA (PETR4), the country’s state-owned oil company, to increase the amount of ethanol added to gasoline, said two government officials with knowledge of the discussions.
Authorities are reviewing ethanol supplies in the South American country to determine if there is enough to proceed with the measure, which would help reduce imports and boost Petrobras’s earnings, said the officials, who asked not to be identified as the matter is not public.
Brazil lowered ethanol levels in gasoline in August because low stocks were pushing up fuel prices, which is no longer the case, said Adriano Pires, head of the Brazilian Center for Infrastructure.
Tuesday, July 3, 2012