From Upstream. 25/4
BP makes Brazil biofuels debut
UK supermajor BP has taken a 50% stake in Brazilian biofuels producer Tropical Bioenergia, marking its entry in Brazil's booming ethanol sector.
BP added it would invest 1.66 billion reais ($1 billion) in two new ethanol plants in Brazil, a Reuters report said.
Interesting!! Biofuels are getting someone's attention.
1 Reais = .643083 A$.... so I think this equates to an investment of about A$1.03bn
Please check my figures...
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