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Brazil: BP digs into Brazilian market with Copersucar deal

By  |  January 9, 2018

Brazil’s competition regulator CADE has approved a joint operation between Copersucar and the Brazilian unit of BP PLC, making it known through its official gazette on Thursday.

In November, the BP unit and Copersucar, one of the world’s largest ethanol traders, said they would form a joint venture to operate a recently built ethanol storage complex in the city of Paulínia, the country’s largest fuel processing center. .

The complex has the capacity to process 2,300 million liters of fuel per year and can store 180 million liters in its 10 tanks, the companies said at the time.
In the bulletin, Cade said the measure would not affect the Brazilian market for storage or supply of ethanol.

Full Content: UK Money News

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