In Brazil, Reuters reports that despite the president’s pressure on Petrobras to keep diesel prices low as the presidential election season kicks off, even having sacked the last CEO for raising fuel prices in light of the Russian invasion of Ukraine, the new Petrobras CEO has raised diesel prices by nearly 9%. Gasoline prices we […]
In Brazil, in January Petrobras and Vibra will begin testing the new Diesel R5 (with 5% renewable content) produced at the Getúlio Vargas Refinery (Repar). Three bus lines operated by Auto Viação Redentor, in Curitiba, Paraná, will run on the new fuel for the next six months. During the period, around 120,000 liters of fuel […]
In Brazil, Reuters reports that while Petrobras waits for regulatory approval for its new renewable diesel co-processed with soybean oils, it will begin six months of testing the fuel with customers in January. The tests will be with an unnamed bus fleet owner backed by a fuel distributor. The fuel is produced at its Repar […]
In Brazil, the request to replace Petroleo Brasileiro S.A.’s CEO made by the Brazil’s Ministry of Mines and Energy is viewed by Fitch Ratings as raising uncertainties for the ethanol sector whose price dynamics are strongly correlated with Petrobras’ pricing policy. The government influence on Petrobras’ business strategy could be a cash flow negative for […]
In Brazil, Platts reports hydrous ethanol hit a record high of more than $500 per cubic meter on February driven by a number of factors including another, this time unexpected, Petrobras gasoline price hike. Carnival holidays, despite the lack of Carnival activities, and students returning to classes were expected to be the main drivers of […]
In Brazil, BNAmericas reports that Brazil’s competition regulator, Cade, authorized RPBio to buy Petrobras Biocombustíveis’ 50% interest in local biodiesel plants operator BSBios. Petrobras said previously that the share is worth 322mn reais (US$60mn). “RPBio is a holding belonging to the ECB group, which owns the remaining 50% of BSBios. It operates in the biofuel […]
In Brazil, Renewables Now reports that Petrobras has agreed to sell its 50% stake in BSBios, which owns two biodiesel plants with a combined capacity of 414,000 cubic meters, to RP Participacoes em Biocombustiveis SA for $62.5 million. Shareholders of Petrobras’ biofuels arms PBios must still approve the transaction that is part of a wider […]
In Brazil, the Wall Street Journal reports that as Petrobras seeks to expand into renewable diesel like many other oil refiners around the world and especially in the Americas, it is establishing a climate change department to help the company tackle major challenges. Shifting to carbon capture technologies as well as lowering the company’s carbon […]
In Brazil, following the successful production of renewable diesel from soy oil, Reuters reports Petrobras says it is ready to move to commercial scale production as soon as the ANP green lights sales of the fuel. The company announced earlier this month its intention to reduce the carbon intensity of its fuels by 16% over […]
In Brazil, the Spanish news agency EFE reported Petrobras announced it has successfully completed the performance tests of a renewable diesel that it developed from vegetable oils and says that it is much more ecological and efficient than traditional biodiesel. The company reported that the large-scale tests with the new fuel were completed last Saturday […]
