By Jeffrey T. Lewis
SÃO PAULO–Petroleo Brasileiro said Monday that it signed a memorandum of understanding with Mubadala Capital to study possible opportunities in downstream activities, with a focus on refining biofuels.
Abu Dhabi-based Mubadala is already in the process of developing an integrated biorefining project in the Brazilian state of Bahia, with a focus on production of renewable diesel and sustainable jet fuel, the oil company known as Petrobras said.
The agreement is part of Petrobras’s efforts to increase its production of sustainable biofuels and reduce greenhouse-gas emissions, the Brazilian company said.
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