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Brazil's Petrobras to ship ethanol to Nigeria

Brazil's Petrobras to ship ethanol to Nigeria

Brazil's state-run oil company Petrobras said Thursday it will begin shipping ethanol to Nigeria in February.
Petrobras, or Petroleo Brasileiro SA, made the announcement after reaching a deal with the Nigerian National Petroleum Corp., the Brazilian company said in a statement.
Petrobras and NNPC completed the negotiations following a memorandum of understanding signed in August 2005.
Petrobras is already shipping ethanol to Venezuela, another large oil producer. The Brazilian company also plans to help both countries build an ethanol industry of their own.
Nigeria plans to blend 10 percent of ethanol into its gasoline, Petrobras said.
Brazil is a leader in production and use of the alternative fuel, which is largely distributed by Petrobras.