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
-
Vema Hydrogen to Produce Clean Hydrogen Below $1 per Kilogram
Inside This Issue 💧 Vema Hydrogen Secures $13 Million to Produce Clean Hydrogen Below $1 per Kilogram 🏭 Air Liquide Could Pursue Just Two Out of Six Us Hydrogen Hubs After Trump Halts Funding 🪨 Sc...
-
Wood Operating Innovative Pilot Carbon Capture Plant in Wyoming
Inside This Issue 🏭 Wood Operating Innovative Pilot Carbon Capture Plant in Wyoming 🌍 Tiktok and Two Drifters Secure Carbon Removal for Long-term Economic Gains 🌬️ Hydron Energy Receives Funding S...
-
Tech Titans and Energy Giants Join Forces to Transform Voluntary Carbon Markets
Inside This Issue 🤝 Tech Titans and Energy Giants Join Forces to Transform Voluntary Carbon Markets 🌲 How Amazon Approaches Carbon Credits, a Key Tool in the Fight Against Climate Change 💰 Canada ...
Company Announcements
-
Air Liquide Could Pursue Just Two Out of Six Us Hydrogen Hubs After Trump Halts Funding
Feb 21 (Reuters) – France's Air Liquide said on Friday that only two out of their six previously awarded hydrogen projects for the U.S. Department of Energy (DoE) might move forward after President...
-
Pall Corporation and MTR Carbon Capture Partner to Advance Carbon Capture Solutions
This collaboration is designed to help customers accelerate their decarbonization goals Integrates Pall’s advanced flue gas filtration and coalescer technology with MTR’s Polaris™ membrane system ...
-
Vast Reserves of Game-changing Clean Fuel May Be Hidden Under Mountain Ranges, Scientists Find
Large reserves of white hydrogen may exist within mountain ranges, according to a new study, raising hopes this clean-burning gas can be extracted and supercharge efforts to tackle the climate cris...
-
Scientists Discover Low-cost Way to Trap Carbon Using Common Rocks
The new process uses heat to transform common minerals into materials that permanently sequester atmospheric carbon dioxide. Stanford Chemists Develop Low-Cost Process for Permanent CO2 Removal S...