Arab Today, arab today bp takes over brazilian biofuel company
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

BP takes over Brazilian biofuel company

Arab Today, arab today

Arab Today, arab today BP takes over Brazilian biofuel company

Rio De Janeiro - Xinhua

British oil giant BP said Wednesday it is taking over Tropical BioEnergia after purchasing a 50-percent stake in the Brazilian biofuel company. BP acquired a 25-percent stake from LDC-SEV Bioenergia and the other 25-percent stake from Maeda Agroindustrial group, one of Brazil\'s main cotton producers. The transaction, still pending official approval from Brazil\'s regulatory authorities, is worth a total of 71 million U.S. dollars. If the deal is approved, BP would be able to renovate the ethanol plant located in Edeia of central Goias state, boosting annual production to 450 million liters of ethanol and 5 tons of sugarcane within a year. \"This is a significant step for BP\'s global strategy which helps us demonstrate our commitment to the Brazilian sugar and energy sector, and enable us to produce competitive biofuels in a sustainable way,\" BP Biofuels Vice President Philip New said in a statement. Mario Lindenhayn, chief of BP Biofuels in Brazil, said that next to other purchases, the agreement \"establishes a solid platform to increase our capacity to produce biofuels for domestic and international markets.\" In a separate purchase announced Wednesday, BP upped its share holdings to 86 percent in the National Sugar and Alcohol Company (CNAA). BP said it had reached an agreement with Brazil\'s main sugar and ethanol producing company to buy 3 percent of the company\'s shares for 25 million dollars. BP bought 83 percent of the CNAA in April for 680 million dollars.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp takes over brazilian biofuel company Arab Today, arab today bp takes over brazilian biofuel company

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp takes over brazilian biofuel company Arab Today, arab today bp takes over brazilian biofuel company

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday