« Working To Improve Efficiency Of Ethanol Fuel | Home | Cellulose-To-Ethanol Startup Takes First VC Round »
Oil Firms Eye Brazilian Shores For Acquisition Of Ethanol Acreage
By Mr Ethanol | August 14, 2007
Economic Times:
Acquisition of sugarcane acreage in Brazil is next on the agenda for oil companies such as BPCL, IOC, HPCL and ONGC Videsh, who have so far been engaged in acquiring oil and gas assets abroad. Domestic oil companies plan to form a joint venture with a two-pronged strategy, greenfield development as well as acquisition of ethanol acreage in Brazil.
“BPCL should discuss the investment project with its counterparts to form a JV,” an official in the petroleum ministry said. BPCL is pursuing the ethanol initiative looking at investment opportunities in Brazil. Oil companies have already appointed Jai Group as a consultant to undertake a feasibility study. The study was submitted in May 2007.
The petroleum ministry has, however, said the oil industry should not look at importing ethanol in India at this juncture to protect interests of Indian farmers. “The oil industry should prospect in ethanol acreage in Brazil like oil and gas, but they should not look at it with a view to importing ethanol into India, as the government may not permit import of ethanol for ethanol-blended petrol (EBP) programme in the immediate future,” an official said.
The sugar industry is also not in favour of ethanol imports. Hence, the oil industry should look at ethanol investments from the point of view of sale in Brazil and export to third countries, he said.
Topics: BizOp, Brazil, Ethanol, Market, News, Oil |
Related Posts
- Petrobras Creates Biofuels Unit
- Brazilian Sugar Cane Ethanol - Private Equity, Investors Move In: Investment Challenges And Opportunities
- Bernanke Backs Lower Tariff On Brazil Ethanol
- A Few Things (Among Many) I Didn’t Know About Brazil
- Petrobras Creates Biofuel Subsidiary
- UN Suggests Removal Of Tariffs On Brazilian Ethanol
- Biofuel Funds Are Taking Off
- Dow Chem Unit, Brazil Sugar Co To Make Plastic From Ethanol
- Cheaper Ethanol Outselling Gasoline In Brazil
- BP Buys Into Brazilian Ethanol Venture
New Way Of Making Easy Money Online