Petrobras, Samsung Sign Initial Pact On Ethanol – Yonhap
CNNMoney:
Brazil’s state-run oil company Petroleo Brasileiro SA, or Petrobras, has signed an initial agreement with South Korea’s Samsung Corp. to cooperate in studying production technology and sales of ethanol, Yonhap News Agency reported Sunday.
With the latest agreement, Petrobras intends to expand sales of fuel ethanol to South Korea. The 2 companies may seek to jointly produce ethanol in Brazil and jointly sell it in South Korea, Yonhap said.
Petrobras forecasts it will be able to sell 300 million to 400 million liters of ethanol to South Korea annually from 2009, Yonhap said.
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