Petrobras opposes Brazil plan to boost biofuels after selloff

Brazil’s state-controlled oil company Petróleo Brasileiro SA has expressed strong opposition to a government-led program to increase the use of biofuels following its recent decision to completely withdraw from the sector.

In a document the energy ministry posted on its website, the company known as Petrobras said it was worried about the impact of more biofuels on forest conservation and food production.

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