Petrobras creates biofuel subsidiary

Petrobras has announced that it's creating a subsidiary company which will work exclusively with biofuels and could become Brazil's leading biofuel exporter. The Brazilian giant believes a new company will create good economies of scale to reduce costs in biofuel production, storage and distribution.
At the same time, the company wants to certify the sustainability of its biofuels. Brazil has been accused of poor work conditions in sugarcane plants, as well as destroying the Amazon forest to plant more soy and sugarcane. Deputy and former minister Antonio Palocci now supports a new international certification entity to guarantee the sustainable provenance of biofuels around the world.

[Source: Diariohoy via Econoticias]