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To: Big Dog who wrote (90293)	9/10/2007 11:31:35 PM
From: elmatador	of 206092

Brazil Petrobras Halts Commercial H-Bio Fuel Output due to high soy prices, the Folha de S.Paulo newspaper said Friday. Brazil Petrobras Halts Commercial H-Bio Fuel Output RIO DE JANEIRO (Dow Jones)--Brazil's state-run oil firm Petroleo Brasileiro SA (PBR), or Petrobras, has postponed the commercial production of its new H-Bio fuel due to high soy prices, the Folha de S.Paulo newspaper said Friday. H-Bio is a diesel fuel that has vegetable oils blended in already at the refinery level. When presenting its H-Bio invention in 2006, Petrobras said it would revolutionize its fuel business, and that it would start its commercial production in December 2006. "Today, it's not worth it producing H-Bio," Petrobras' Downstream Director Paulo Roberto Costa is quoted as saying. Soy prices in Sao Paulo have surged to 35.50 reals ($18.11) per 60-kilogram-bag from BRL25.50 a year earlier. Despite not starting commercial production yet, Petrobras sticks to a target of producing 425 million liters of the fuel in 2008, and 1.6 billion liters in 2012. The company had originally planned to already produce 285 million liters of H-Bio in 2007. Source: Bernd Radowitz, Dow Jones Newswires; +5521-2553-7322; bernd.radowitz@dowjones.com;

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