OPEC President Discusses Ethanol

OPEC’s president discussed Brazil’s booming ethanol industry with the chief executive of Brazil’s state-owned petroleum company Tuesday and will visit Brazilian factories that turn sugar cane into the fuel.

Edmund Daukoru, OPEC’s president and Nigeria’s oil minister, met with Sergio Gabrielli of Petrobras and the two discussed alternative energy and liquefied natural gas — which Brazil is interested in importing to reduce its dependance on gas from neighboring Bolivia amid demands by the Andean nation for higher prices.

.moneycentral