Marubeni to partner with Petrobras

Japanese trading firm Marubeni Corp. said it may back a US$20 billion refinery in partnership with Brazil’s state-run oil company Petroleo Brasileiro (Petrobras). Meanwhile, a Petrobras joint venture (JV) with Japan Alcohol Trading Co. Ltd. has begun producing E3 gasoline, which has a 3% ethanol blend, at its new plant in Sodegaura in the Kanto region of Japan. (February 20/ March 13/15, 2009)