Petrobras, Mitsui in Bioenergy Joint Venture

Petrobras and Mitsui have established a 50-50 joint venture in Brazil to invest in bioenergy projects, particularly ethanol for export to the Japanese market. The new venture, Participações Nippo Brasileira em Complexos Bioenergéticos, will also pursue power generation from sugarcane bagasse. The new projects will focus on meeting Japanese demand for ethanol, says Petrobras.