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Brazil, China sign MOU on feasibility of ethanol projects
(Xinhua)
Updated: 2009-12-24 15:52
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Brazil's State-owned oil and gas conglomerate Petrobras on Wednesday signed a Memorandum of Understanding (MOU) with the Chinese oil giant PetroChina to assess the technical and economic feasiblity of launching ethanol production projects in Brazil.
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Meanwhile, other projects aimed at exporting Brazilian ethanol to China could be carried out through cooperation between PetroChina and Petrobras.
Petrobras said PetroChina deems the Brazilian company a natural partner for such ventures, thanks to their "excellent" trade relationship and because of anticipated synergies between the two companies.
