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
-
Can Carba Really Remove Carbon Under $100?
Inside This Issue 🌬️ U.S. Bank Makes First Carbon Removal Purchase with Carba's Minnesota Biochar Project 🏭 Michigan's CCS Primacy Bid Could Reshape Great Lakes Industry 🏗️ Europe's Largest Carbo...
-
Deep Sky's Alberta DAC Project Gets Its First Pre-Issuance Rating
Inside This Issue ⭐ Deep Sky Receives First Pre-Issuance DAC Rating ♻️ Casella Waste Systems and Waga Energy Bring Third RNG Facility Online at McKean Landfill 🌐 Sinopec and International Partners...
-
Montana Renewables Cuts SAF Cost to $137M
Inside This Issue ✈️ Montana Renewables Announces Innovative, Capital-Efficient Expansion to 200 Million Gallons of Sustainable Aviation Fuel ⚗️ Live Oak Starts Competitive FEED for Nebraska E-Met...
Company Announcements
-
Fortera and MLC Sign Development Agreement for First Full-Scale Commercial ReAct Cement Plant
The new Fortera Cement Plant will be the world's first industry-scale operation to transform waste CO₂ into value-added cement. This marks a major step from commercial validation to industrial-sca...
-
Corporate buyers are moving faster than ever to secure biochar carbon removal credits, and the numbers back it up. A new market intelligence report from Supercritical shows that 81% of high-quality...
-
Installation Work for a 30MW Class Hydrogen-Fired Gas Turbine Has Been Completed
~Towards the Implementation of Europe's First Power Generation Demonstration Project~ 30MW class gas turbine "L30A" Power generation equipment inst...
-
Europe's Largest Carbon Capture Facility Officially Inaugurated at Yara Sluiskil in the Netherlands
SLUISKIL, Netherlands, Sept. 7, 2026 /PRNewswire/ -- Europe's largest industrial carbon capture facility was officially inaugurated today at Yara International ASA's plant in Sluiskil, the Netherla...