BP launches new biofuel joint venture

BP has entered a joint venture partnership with Brazilian agricultural producer Bunge aimed at boosting the former's biofuel business nearly 50 percent.

According to BP, suger cane is one of the most CO2-friendly ways of producing bioethanol. This photo shows sugar cane fields at Piracicaba, 150 km northwest of Sao Poulo. Photo: Alexandre Meneghini / AP / Ritzau Scanpix

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