Petrobras sets up storage network

Brazilian oil and gas company Petrobras has set up a network for distribution and storage of ethanol and other liquids.

Petrobras joins five other players to form a new company with an initial capital of BRL100 million (€42.5 million) to develop the network.

The shareholders in the new company will be Petrobras with 20%; Cosan SA Industria e Comercio (20%); Copersucar (20%); Odebrecht Transport Participacoes (20%); Camargo Correa Oleo e Gas (10%); and Uniduto Logistica (10%).

Petrobras, Camargo Correa, Odebrecht and Uniduto have already carried out studies on the new project.

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