Brazil will increase the amount of biodiesel that must be blended into diesel from the current 5% to 6% in July and again to 7% in November. The goal of this increase will be to replace Brazil’s diesel fuel imports with domestically produced biodiesel.
“The increase in the biodiesel blend will allow Brazil to substitute the import of 1.2 billion liters (264 million U.S. gallons) of diesel a year,” Mines and Energy Minister Edison Lobao said at an event on Wednesday.
This is good news for Petrobras, who has been forced by government policies to import diesel fuel and sell it as at a loss.
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