Petrobras acquires 50% stake in biodiesel producer

In Brazil, a wholly owned subsidiary of energy giant Petrobras, Petrobras Biocombustível S.A. – Pbio, has purchased a 50% stake in a biodiesel plant for $128 million (€88 million).

The plant is located in Rio Grande do Sul and owned by BSBIOS Indústria e Commércio de Biodiesel Sul Brasil.

The biodiesel production plant is able to produce 42 million gallons a year of biodiesel from vegetable oil.