{"id":95695,"date":"2025-09-08T10:31:46","date_gmt":"2025-09-08T13:31:46","guid":{"rendered":"https:\/\/murray.adv.br\/?p=95695"},"modified":"2025-09-08T10:31:46","modified_gmt":"2025-09-08T13:31:46","slug":"petrobras-weighs-entry-into-corn-ethanol-market","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/petrobras-weighs-entry-into-corn-ethanol-market\/","title":{"rendered":"Petrobras weighs entry into corn ethanol market"},"content":{"rendered":"
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Deal would mark oil company\u2019s return to the sector after exit last decade<\/em><\/strong><\/h6>\n<\/div>\n<\/div>\n
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09\/08\/2025<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n

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Petrobras\u00a0is considering acquiring a\u00a0corn ethanol\u00a0producer this year, sources told\u00a0Valor<\/strong>. If confirmed, the move would signal the state-controlled company\u2019s return to the sector, which it exited in the mid-2010s with the sale of assets. The corn ethanol market has been expanding as an alternative to sugarcane-based production. Ongoing projects in the segment total R$23 billion in investments.<\/p>\n<\/div>\n

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In a statement, Petrobras said it is conducting studies and analyses of potential opportunities in the bioproducts segment, which includes ethanol.<\/p>\n<\/div>\n

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The company added that its current 2025-2029 business plan foresees investments in ethanol, \u201cpreferably through minority strategic partnerships or shared control with relevant sector players.\u201d While not denying ongoing talks, Petrobras said there are no firm decisions on corn ethanol projects. \u201cThe company clarifies that there is no definition regarding the raw material to be used in ethanol production projects,\u201d it noted.<\/p>\n<\/div>\n

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The potential move comes amid Petrobras\u2019s broader push in fuel distribution. Since the start of the Lula administration, the company has signaled interest in returning to the distribution market, fueling speculation about possible mergers and acquisitions in the sector. In August,\u00a0Valor<\/strong>\u00a0reported that\u00a0Ra\u00edzen shareholders Shell and Cosan were seeking a new partner<\/a>.<\/p>\n<\/div>\n

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Days later, O Globo reported that Petrobras was studying a stake purchase in Ra\u00edzen. The company denied the claim. \u201cThere is no project or study of investment in ethanol or distribution with Ra\u00edzen,\u201d Petrobras said at the time. Sources close to the company told\u00a0Valor<\/strong>\u00a0that Petrobras is evaluating opportunities with several firms, but Ra\u00edzen is not currently among them.<\/p>\n<\/div>\n

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Another scenario raised in the market is a possible deal with Vibra Energia, the former BR Distribuidora privatized under former President Jair Bolsonaro. Analysts and industry executives, however, consider such a transaction unlikely, partly because Petrobras would need to launch a full takeover bid to acquire a stake.<\/p>\n<\/div>\n

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There would also be potential antitrust hurdles due to the potential market concentration. As of the close of trading on B3 on Friday (Sept. 5), Vibra\u2019s market capitalization stood at R$27.9 billion. The company declined to comment.<\/p>\n<\/div>\n

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Despite these obstacles, Petrobras has criticized the privatization of BR Distribuidora, arguing that it distanced the company from end customers. It has since sought direct supply agreements with large clients for products such as diesel. With Vale, Petrobras has signed contracts for marine fuel containing 24% biodiesel (bunker B24). The company has also signaled plans to return to the cooking gas (LPG) market.<\/p>\n<\/div>\n

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Industry sources say buying another distributor or building a new network from scratch may not be easy for Petrobras, given a brand agreement with Vibra that includes a non-compete clause until 2029. Until then, Vibra retains the right to use the BR brand, formerly owned by Petrobras.<\/p>\n<\/div>\n

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Vibra has expanded in recent years through acquisitions aligned with the energy transition. It acquired Comerc Energia (now up for sale<\/a>), at the time Brazil\u2019s largest independent power trader, and\u00a0Zeg Biog\u00e1s<\/a>, a biogas and biomethane producer. It also invested in the EV charging startup EZVolt and formed a joint venture with Copersucar for ethanol trading.<\/p>\n<\/div>\n

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Together, Vibra, Ra\u00edzen, and Ipiranga control 61.3% of the distribution market, according to Brazil\u2019s Petroleum Agency (ANP), based on data from Sept. 3.<\/p>\n<\/div>\n

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These moves come as the fuel market faces mounting challenges from irregular operators. Major distributors have been steadily losing share to companies engaging in practices such as fraud, adulteration, and tax evasion.<\/p>\n<\/div>\n

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Last week, federal and state authorities\u00a0stepped up enforcement\u00a0<\/a>against multibillion-real tax evasion and fuel fraud schemes linked to the Primeiro Comando da Capital (PCC), Brazil\u2019s most powerful criminal organization.<\/p>\n

*By\u00a0F\u00e1bio Couto\u00a0\u2014 Rio de Janeiro<\/p>\n

Source: Valor International<\/p>\n

https:\/\/valorinternational.globo.com\/<\/p>\n

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Deal would mark oil company\u2019s return to the sector after exit last decade     09\/08\/2025 Petrobras\u00a0is considering acquiring a\u00a0corn ethanol\u00a0producer this year, sources told\u00a0Valor. If confirmed, the move would signal the state-controlled company\u2019s return to the sector, which it exited in the mid-2010s with the sale of assets. The corn ethanol market has been […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[26403,12515],"class_list":["post-95695","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-corn-ethanol-market","tag-petrobras-2"],"yoast_head":"\nPetrobras weighs entry into corn ethanol market - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/petrobras-weighs-entry-into-corn-ethanol-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Petrobras weighs entry into corn ethanol market - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Deal would mark oil company\u2019s return to the sector after exit last decade     09\/08\/2025 Petrobras\u00a0is considering acquiring a\u00a0corn ethanol\u00a0producer this year, sources told\u00a0Valor. 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