Ecuador Joins Brazil to Boost Biofuel Production

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Researched by Industrial Info Resources (Sugar Land, Texas). Brazil’s President, Luiz Inácio Lula da Silva, and his counterpart in Ecuador, Rafael Correa, signed agreements during Correa´s recent visit to Brazil for the two countries to jointly produce biofuels and explore for oil in Ecuador.

Both parties will commit to boosting oil exploration and agricultural productivity. Correa said Ecuador expects to accelerate the production of biofuels “not only because it is environmentally friendly, but also because it will help develop the country’s [Ecuador’s] agricultural sector and improve income distribution.”

Brazil is the world’s number-one sugar producer and exporter, and the leading exporter of ethanol made from sugarcane. With the most advanced technology and know-how in biofuels, Brazil is helping to open up new markets for ethanol and other green fuels and Ecuador hopes to count on Brazilian cooperation to produce them.

Also, Brazil’s state-run oil company, Petrobras, and Ecuador’s Petroecuador signed a memorandum of understanding on March 28 with the aim to exploit the Ishpingo-Tiputini-Tambococha (ITT) oil fields in the Yasuni National Park in the Ecuadorian Amazon.

ITT's estimated 1 billion barrels of heavy crude is in the heart of Yasuni, one of Ecuador's most important animal and plant reserves, 19,884 miles north of the Ecuadorian capital of Quito.

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