Petrobras Makes First Ethanol Shipment To US
The O Globo newspaper reports that Brazil’s state-run oil firm Petroleo Brasileiro SA (PBR), or Petrobras, last week made its first shipment of ethanol to the United States last week.
According to thew publication, a vessel with 12,000 cubic meters of ethanol left the port of Rio de Janeiro for the U.S., and that Petrobas plans another shipment of 20,000 cubic meters of ethanol to the U.S. this month.
Despite imposing an import tax of more than $0.50 per gallon against Brazilian ethanol, the U.S. is Brazil’s top ethanol export market. Petrobras said it should export around 850 million liters of ethanol in 2007, which includes markets like Nigeria and Venezuela and test volumes to Japan.