Petrobras sees green fuel losses
Petrobras Biocombustiveis, the biofuel subsidiary created by Brazil's state-run energy company Petrobras, has experienced losses of BLR 92 million (€38.1 million)in the fiscal year ended 31 December 2009.
The company's first year in operations went poorly.
Its three biodiesel plants, with 326 million litres a year combined capacity, went on stream late in Q2 2009 to a market of high feedstock prices in Northeastern Brazil, where two of its three plants are located.
The company's first year in operations went poorly.
Its three biodiesel plants, with 326 million litres a year combined capacity, went on stream late in Q2 2009 to a market of high feedstock prices in Northeastern Brazil, where two of its three plants are located.
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