Petrobras policy on ethanol unclear.

摘要

According to Aldemir Bendine, CEO of the Brazilian state oil company, the country's ethanol production will be key to cutting Brazil's dependence on gasoline imports. Speaking at the 2015 Ethanol Summit in Brazil, Mr. Bendine also reiterated that Petrobras will continue to set gasoline prices in the country in line with market forces. Sources seemed uncertain how to take his remarks, however, noting that Petrobras is said to be not only looking to sell its stake in Guarani, a Brazilian sugar and ethanol producer, but is also currendy selling fuel at prices below international market rates, taking a hit on imports and also putting pressure on ethanol producers who must compete with the cheap gasoline.