Petrobras to Build Ethanol Mills, Boost Output

Petroleo Brasileiro SA (PETR4), Brazil’s state-controlled oil company, will build ethanol mills to boost production and guarantee stable supplies, Energy Minister Edison Lobao told the O Globo newspaper.

Petrobras will more than double its stake in Brazil’s ethanol market to 12 percent from 5 percent, Lobao told the Rio de Janeiro-based newspaper. The government decided to have Petrobras increase investments in ethanol after prices for the fuel climbed earlier this year, Lobao told O Globo.