Brazil: Petrobras begins operating in Asian distribution market

9 January 2009

Sao Paulo, Brazil, 9 Jan – Brazilian state oil and fuel company is due this year to begin operating in the Asian distribution market on opening up a petrol station in Japan.

“At the start of 2009 the first petrol station will be opened under the Petrobras brand in Japan,” said the director for the company’s international area, Jorge Luiz Zelada, cited in a statement.

One of Petrobras’ aims is to promote the distribution of ethanol in the Asian market, via Japanese refinery Nansei Sekiyu, which was recently acquired by the Brazilian company.

In April 2008, Petrobras acquired, in partnership with ExxonMobil, 87.5 percent of the Japanese refinery. The deal marked the beginning of the company’s involvement in the Asian refinery sector.

The remaining 12.5 percent of Nansei Sekiyu remained in the hands of the Sumitomo Corporation.

The Japanese company has the capacity to refine 100,000 barrels of oil per day and produces derivatives for the Japanese market, as well as owning a sea terminal with the capacity to store 9.6 million barrels of oil.

Japan currently imports 500 million litres of ethanol per year, of which 380 million are from Brazil and the remainder from the United States. (macauhub)