February 1, 2018 / 5:35 PM / in 9 months

Brazil draft rules to boost ethanol, biodiesel likely out in Feb. -govt

RIO DE JANEIRO, Feb 1 (Reuters) - Brazil’s federal government is expected to publish this month a draft governance model for RenovaBio, a program that seeks to boost the use of renewable fuels in Latin America’s top economy, an official said on Thursday.

Márcio Félix, Brazil’s oil and gas secretary, also said he expected decarbonization targets to come out by the end of June, though biofuel industry sources have said there is a plan afoot to set the goals in February.

The RenovaBio program, approved by Congress in December, mandates that fuel distributors gradually increase the amount of biofuels they trade each year. Details of the program will be hashed out in the draft model. (Reporting by Marta Nogueira; Editing by Richard Chang)

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