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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: energyplay who wrote (64369)	5/28/2005 1:54:39 AM
From: elmatador	Read Replies (1) of 74559

Mitsui, Petrobras and Vale to Study Brazil's Ethanol Network May 27 (Bloomberg) -- Mitsui & Co., Petroleo Brasileiro SA, and Cia Vale do Rio Doce SA will look into how to improve ethanol transportation in Brazil to try and boost exports of the fuel. The companies will sign an agreement this afternoon to study improvements to Brazil's ethanol supply network, Mitsui spokesman Norio Kozuka said in a telephone interview today. The Nihon Keizai newspaper reported earlier that Tokyo-based Mitsui, Japan's second-largest trading company, and the two Brazilian companies will examine ways to upgrade pipelines and ports to allow Brazil to ship more ethanol overseas. Petroleo Brasileiro, known as Petrobras, is Brazil's state- controlled oil company. Vale is the world's biggest iron-ore producer. Japanese Prime Minister Junichiro Koizumi and Brazilian President Luiz Inacio Lula da Silva yesterday agreed on the need for more non-governmental cooperation to promote ethanol use. The Japanese government is promoting ethanol as a fuel additive to help the country meet its goal for reducing emissions of greenhouse gases under the Kyoto Protocol. Brazil wants to increase ethanol exports by boosting sales to Japan, the world's second-largest gasoline market after the U.S. Ethanol is a form of alcohol that is added to gasoline to increase the oxygen content so the fuel burns more completely, reducing tailpipe emissions. Ethanol, made from sugar in Brazil and from corn in the U.S., also is used to stretch gasoline supplies when crude-oil prices rise.

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