Vale signed a protocol of intent with Petrobras to develop low carbon options, profiting from the technical experience of each firms and their synergies. The partnership is for a two-year interval and can assess joint decarbonization alternatives, together with the event of sustainable fuels – resembling hydrogen, inexperienced methanol, biobunkers, inexperienced ammonia and renewable diesel – and C02 seize and storage applied sciences.
The initiative additionally consists of potential industrial agreements for the availability of low-carbon fuels produced by Petrobras for use in Vale’s operations, which may contribute to the corporate’s dedication to lowering its greenhouse fuel emissions.
Eduardo Bartolomeo, Vale’s CEO mentioned:
Brazil has all the mandatory circumstances to steer a large-scale improvement of low-carbon options and renewable fuels, resembling inexperienced hydrogen and inexperienced methanol.
“Vale is firmly dedicated to lowering its carbon footprint and desires to be a protagonist on this journey, leveraging related actions for the vitality transition in Brazil. This settlement with Petrobras matches completely into this context.”
Jean Paul Prates, Petrobras’ president, mentioned:
Petrobras’ partnership with Vale might be strategic in driving the nation’s vitality transition.
“These are the 2 greatest Brazilian powers becoming a member of forces round a typical goal: to develop probably the most trendy options to scale back greenhouse fuel emission.”
“We’re going to leverage the manufacturing capability, logistical construction and technological experience of two nationwide giants to spice up the manufacturing and provide of extra environment friendly and sustainable fuels. That is what we are able to name being a primary mover to materialize our decarbonization technique, creating demand and scale for low-carbon options,” he added.
This partnership can assist Vale obtain its dedication to scale back its absolute scope 1 and a pair of emissions by 33% by 2030 and obtain neutrality by 2050, in keeping with the Paris Settlement.
About Petrobras
Petrobras is a Brazilian firm and one of many largest oil and fuel producers on this planet, primarily devoted to exploration and manufacturing, refining, vitality technology and advertising and marketing. Petrobras has experience in exploration and manufacturing in deep and ultra-deep waters because of virtually 50 years of creating Brazil’s offshore basins, chief worldwide on this phase.
The corporate´s precedence is to function at low prices and with low carbon emissions, reinforcing its dedication to sustainable improvement for a simply vitality transition in Brazil. Petrobras’ ambition is to neutralize emissions (scopes 1 and a pair of) within the actions below its management by 2050.
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Vale and Petrobras signal Protocol of Intent to speed up the event of low-carbon options, September 28, 2023
