Japanese firms join Petrobras, Itochu MOU

In July, Japanese trader Toyota Tsusho, and Brazilian companies Odebrechet and Queiroz Galvao, joined a memorandum of understanding signed by Brazil’s state-owned oil and gas company Petrobras and Itochu on June 8 to evaluate the potential of biofuels production in the Pernambuco hinterland, Brazil. The studies will look at producing ethanol from sugarcane and biodiesel from feedstock available in the region. The partners will study the export of biofuels to the Japanese market, as well as to other parts of the world. Together with Itochu, Toyota Tsusho will look at exporting ethanol to North America or Southeast Asia as well, as currently Japan has limited blending of ethanol into gasoline. (July 23, 3007)