Petrobras and Statoil join forces to produce biofuels
Brazil meets Norway to produce biofuels. During a state visit by Brazil's President Luis Inácio Lula da Silva, the two directors of the two state-owned oil companies, José Sergio Gabrielli de Acevedo and Helge Lund, signed agreements to collaborate in biofuel research, as well as better methods to search for oil (ahem).
Statoil wants to acquire Brazil's expertise in producing ethanol and Petrobras has proven to be the perfect partner since they already have joined forces in other projects in Brazil, Angola, Nigeria and the Gulf of Mexico.
The Scandinavian countries are Europe's leaders in ethanol consumption, which is mostly imported from third parties. Norway, on the other hand, is an important oil producer because of its operations in the North Sea.
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