Petrobras buys 50% stake in biodiesel company

Brazilian state-run energy company Petroleo Brasileiro or Petrobras, said that it acquired a 50% stake in local biodiesel company Bioleo Industrial e Comercial, for 15.5 million Brazilian reais (US$8.81 million). “Bioleo is an oil extraction plant located in Bahia state, with capacity to process 130,000 tons of grains of several types of oilseeds. The unit has installed capacity to store 30,000 tons of grain and tankage for 10 million liters of oil,” said Petrobras. The control of the company will be shared among Petrobras and the other partners, who have a 50% stake in Bioleo. (August 28, 2010)