Pemex is set to launch its first-ever sales of gasoline mixed with cleaner-burning ethanol to reduce greenhouse gas emissions, the Mexican state-run oil company said on Thursday.
Pemex has awarded contracts to be supplied with as much as 123 million liters of ethanol per year, which will be derived from locally-produced sugar cane and sorghum.
Over the course of the 10-year contracts, the value of the ethanol purchased would range between $524 and $750 million, Pemex said in a statement.
The 5.8 percent ethanol will be mixed with Pemex's top selling Magna gasoline . . .
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