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Petrobras backs ethanol blend increase to cut gasoline imports
October 4, 2012 / 3:12 PM / in 5 years

Petrobras backs ethanol blend increase to cut gasoline imports

SAO PAULO, Oct 4 (Reuters) - An increase in the amount of ethanol Brazil blends into its gasoline to 25 percent would be the best way for Brazil to cut fuel imports and improve refinery output, the chief executive of Brazil’s state-led oil company Petrobras said on Thursday.

Increased ethanol output would also allow Petrobras to maximize output from its refineries by using more crude oil to make diesel, the country’s most used vehicle fuel, CEO Maria das Graças Foster told reporters in Sao Paulo.

Brazil in 2011 cut the amount of ethanol in its gasoline blends to 20 percent from 25 percent as a result of a shortage of ethanol and an increase in the price of the biofuel.

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