BP: forms biofuels joint venture with Bunge
(CercleFinance.com) - Oil major BP and agricultural processor Bunge said on Monday that they have formed a 50-50 joint venture to develop biofuels and biopower.
BP will combine its Brazilian biofuels and biopower businesses with that of Bunge, one of the world's biggest grain merchants, to create a producer of sugarcane ethanol in Brazil, BP Bunge Bioenergia.
Brazil is the world's second largest market for ethanol that is produced from sugarcane. The majority of vehicles in the country - around 70% - are already able to run on ethanol.
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BP will combine its Brazilian biofuels and biopower businesses with that of Bunge, one of the world's biggest grain merchants, to create a producer of sugarcane ethanol in Brazil, BP Bunge Bioenergia.
Brazil is the world's second largest market for ethanol that is produced from sugarcane. The majority of vehicles in the country - around 70% - are already able to run on ethanol.
Copyright (c) 2019 CercleFinance.com. All rights reserved.