Petroleo Brasileiro S.A. (Petrobras) is partnering with metal producer Ternium to provide pure gasoline to the latter’s plant in Rio de Janeiro.
The settlement marks Ternium’s migration from the captive market to the free market in Rio de Janeiro, the place it depends on a agency provide of pure gasoline offered by Petrobras, in accordance with a latest information launch. The 2 firms are “betting on growing options to allow Brazil’s open, aggressive, clear, sustainable, and ever-growing buying and selling setting,” Petrobras mentioned.
The 2 firms additionally intend to develop different enterprise partnerships and synergies regarding the pure gasoline phase, in accordance with the discharge.
- Advertisement -
“Petrobras and Ternium have vital synergies, and the pure gasoline market is an important hyperlink between them. As to the present market opening context, the brand new Pure Gasoline product portfolio supplies a diversified vary of contracts in a extra aggressive setting. We’re at all times working at being our enterprise companions’ finest provide choice,” Maurício Tolmasquim, Petrobras Power Transition and Sustainability Director, mentioned.
“This settlement will open up nice alternatives for Ternium Brasil. The opportunity of buying pure gasoline within the free market makes for increased competitiveness, enabling more practical useful resource administration. This issue enhances processes and stimulates metal decarbonization—a strategic agenda for us,” Titus Schaar, Ternium Brasil President, mentioned.
Ternium describes itself as one of many high metal producers in Latin America. Its industrial plant in Santa Cruz, Rio de Janeiro, has an output capability of 5 million tons of metal plates per yr, supplying industries within the USA, Mexico, Brazil, and Europe.
Colombia Gasoline Discovery Replace
In the meantime, Petrobras mentioned that the gasoline potential within the latest discoveries in Colombia’s Guajira Offshore Basin is round 6 trillion cubic toes in place, “confirming the magnitude of the discoveries made within the space and its significance for the Colombian gasoline market”.
Petrobras is the operator of the asset with a working curiosity of 44.44 %, whereas Ecopetrol holds the remaining working curiosity of 55.56 %. The consortium will proceed operations to develop the world, in accordance with planning and contractual forecasts with the Nationwide Hydrocarbons Company (ANH), in accordance with a separate information launch.
“The industrial viability of the reserve would require additional research,” Petrobras mentioned.
In August, Petrobras mentioned its Uchuva-2 nicely confirmed the invention it made in 2022 with the Uchuva-1 nicely, including that the nicely “provides related info for the event of a brand new frontier of exploration and manufacturing in Colombia, reinforcing the volumetric potential for gasoline within the area”.
The Uchuva-2 nicely, which was spudded in June, is positioned in deep waters in Colombia, 19 miles (31 kilometers) off the coast and at a water depth of two,638 toes (804 meters). In its deliberate growth of 5 phases, the gas-bearing interval was verified within the fourth part by means of wireline logging, which will probably be additional characterised by means of laboratory analyses, Petrobras mentioned.
The Uchuva-1 and Uchuva-2 wells have been renamed Sirius-1 and Sirius-2, respectively.
Petrobras earlier said that its operations within the Tayrona Block are consistent with its long-term technique, aimed toward replenishing oil and gasoline reserves by means of the exploration of recent frontiers and performing in partnership, “guaranteeing that world vitality demand is met throughout the vitality transition”.
To contact the creator, e-mail rocky.teodoro@rigzone.com
