China and Brazil sign MoU on ethanol projects
Dec 24, 2009 01:00 AM
Chinese oil giant PetroChina and Brazil's state-owned oil and gas conglomerate Petrobras signed a Memorandum of
Understanding (MoU) to assess the technical and economic feasibility of launching ethanol production projects in
Brazil.
According to the MoU, projects of ethanol production in Brazil would be developed in partnership between PetroChina
and Petrobras' subsidiary, Petrobras Biofuels (PBio).
Meanwhile, other projects aimed at exporting Brazilian ethanol to China could be carried out through cooperation
between PetroChina and Petrobras.
China is the world's second-biggest energy consumer after the US.
