Mitsui & Co., Petrobras to Sign MOU
Mitsui & Co., Ltd., reached an agreement with Petrobras (Petroleo Brasileiro S.A.) to jointly carry out a feasibility study for promoting the production of bio-ethanol and related products in Brazil and for the marketing of such into the international market. The Memorandum was signed on April 10. Bio-ethanol is deemed to be an effective renewable fuel for the purpose of achieving the goals stipulated in the Kyoto Protocol, reduction of Green House Gas. Brazil produces 35% of all world's bio-ethanol and exports over 2 million kiloliters.