OPEC president Edmund Daukoru met the chief executive of Brazilâ€™s state-owned oil company on Tuesday to discuss the countryâ€™s rapidly growing ethanol industry.
Edmund Daukoru, who is also Nigeriaâ€™s oil minister, is currently in Brazil where talks were held with Petrobas CEO Sergio Gabrielli. Brazil is interested in using alternative energy sources such as liquefied natural gas and ethanol fuel in order to reduce the countryâ€™s dependence on gas from neighboring Bolivia.
Daukoru is currently heading a committee dedicated to increasing ethanol production and usage levels in Nigeria. Petrobras is supporting Nigeria, with officials planning to export ethanol made from sugar cane while simultaneously helping the country to build its own ethanol industry.
During his trip to Brazil, the OPEC president plans to visit ethanol plants in the capital of Sao Paulo, Petrobras said.
Brazil, the largest South American country, is a world leader in the production and use of ethanol. Statistically, seven of every 10 new cars sold in Brazil are flex fuel vehicles which means the vehicle can operate on gasoline, ethanol or any combination of the two petroleum products.