Brazil's Petrobras and Miner Vale Have Decarbonization Partnership in Works
Published by Todd Bush on October 16, 2024
RIO DE JANEIRO (Reuters) - Brazil's Petrobras is discussing a partnership with Vale to help the mining company lower carbon emissions, the state-run oil firm's Chief Executive Magda Chambriard said on Monday.
>> In Other News: Global Emissions Set to Peak in 2024 Thanks to EVs & Clean Energy Initiatives
WHY IT'S IMPORTANT
The two Brazilian companies are among the largest in Latin America by market value.
Chambriard said the firms will "help each other" decarbonize, with a possible deal in which Petrobras would supply marine fuel and diesel with renewable content for Vale to run its railways, ships, and trucks.
KEY QUOTE
"It's an effort by the two largest companies in Brazil towards decarbonization," Chambriard told journalists.
BY THE NUMBERS
Petrobras is already able to provide marine fuel with up to 24% of renewable content, and diesel with 5%, said Chambriard.
ADDITIONAL CONTEXT
Both Vale and Petrobras are looking for ways to reduce carbon emissions from their operations, with Vale resorting to batteries and renewable energy in its effort.
Petrobras believes it could reach net zero carbon emissions by 2035, said Chambriard, but maintained that its formal commitment is still to do so by 2050.
About PetrobrasPetrobras is a state-owned oil company dedicated to providing energy solutions with a focus on sustainability and innovation.
Subscribe to the newsletter
Daily decarbonization data and news delivered to your inbox
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Latest issues
-
What 10x Growth Means for Hydrogen’s Future
Inside This Issue 💧 Blue Hydrogen Just Won 2025: 10x More Than Green ✈️ Houston American Energy Advances Development of Sustainable Aviation Fuel ⛏️ Max Power Expands Natural Hydrogen Discovery Po...
-
Google's Power Play: First CCS Deal Reshapes Energy
Inside This Issue ⚡ Google's Power Play: First CCS Deal Reshapes Energy 🌎 True North Carbon's Tamarack Project, Canada's Largest Single-Technology Direct Air Capture Deployment, Achieves First Cap...
-
The $27/ton Question: What Makes a Carbon Removal Credit Worth 3x More?
Inside This Issue 💰 The $27/ton Question: What Makes a Carbon Removal Credit Worth 3x More? 🛢️ EPA Issues Three Class VI Permits to ExxonMobil in Jefferson County, Texas 🌍 UN Endorses First Articl...
Company Announcements
-
BILBAO, Spain — H2SITE, the deep-tech start-up revolutionizing high-purity hydrogen production through cutting-edge palladium membrane technology, is scaling up its industrial presence with project...
-
CCS+ Initiative and Puro.earth Join Forces to Integrate Carbon Credit Methodologies and Scale CCS
Today, the CCS+ Initiative and Puro.earth (Puro), a leading standard and registry for durable carbon removal, announced that they have signed a Memorandum of Understanding (MoU). Through this strat...
-
October 27, 2025 Company to supply critical compression equipment for ammonia production and CO2 transportation, and a steam turbine-driven power generation generator technology Facility to produ...
-
BUFFALO, N.Y., Oct. 27, 2025 /PRNewswire/ -- Buffalo Biodiesel Inc., a leading recycler of used cooking oil (UCO) and a pioneer in renewable feedstock production, recently announced that it has suc...