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
-
City of Lancaster and City of Industry Launch First Public Hydrogen
Inside This Issue 💧 Revolutionizing the Green Hydrogen Market: City of Lancaster and City of Industry Launch First Public Hydrogen (FPH2)--the First Public Hydrogen Utility 🌿 Drax and Pathway Ener...
-
Pathway Energy Launches Ultra-Negative SAF, Gulf Coast Facility Plans
Inside This Issue 🌍 Carbon-Negative Fuels Pioneer Pathway Energy Debuts with Ultra Negative Sustainable Aviation Fuel and Plans for New SAF Facility on US Gulf Coast 🛠️ NETL Supported Completion o...
-
Technip Energies & GE Vernova Win Major Contract for Net Zero Teesside Power with Carbon Capture
Inside This Issue 🏭 Technip Energies and GE Vernova Awarded a Major Contract for the Net Zero Teesside Power Project, Which Aims to Be the World’s First Gas-fired Power Station With Carbon Capture...
Company Announcements
-
Electra and Interfer Sign MOU to Collaborate on Clean Iron and Green Steel Production
BOULDER, Colo., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Electra, a clean iron company, and Interfer Edelstahl Group, a global steel and raw materials trader, have signed a memorandum of understanding (MO...
-
Copenhagen Infrastructure Partners Acquires Majority Stake in ABO Energy’s Wind and Hydrogen Project
ST. JOHN’S, Newfoundland and Labrador and COPENHAGEN, Denmark, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Copenhagen Infrastructure Partners (CIP), through its Energy Transition Fund (CI ETF I), has acquire...
-
BOLINGBROOK, Ill., Dec. 17, 2024 /PRNewswire/ -- Hyzon (NASDAQ: HYZN) (Hyzon or the Company), a U.S.-based, high-performance, hydrogen fuel cell system manufacturer and technology developer focused...
-
Thyssenkrupp Nucera Prepared for Any US Shift on Green Hydrogen
FRANKFURT, Dec 17 (Reuters) - Thyssenkrupp Nucera, which makes electrolysers needed to produce low-carbon hydrogen, could quickly shift resources elsewhere if U.S. policies under President-elect Do...