Petrobras signss agreement to supply Vale fuel with renewable content
Petrobras and Vale have agreed to sell Vale diesel containing renewable content. The two Brazilian giants announced the agreement on Friday. The agreement represents a concrete step by Vale in decarbonizing its operations. It also marks a victory for Petrobras, the state-owned oil company that is working to create a market for its sustainable fuels.
Trader Wilmar reduces projections for Brazil sugar production
Wilmar International, a commodities trader based in Asia, cut its forecasts for sugar production by Brazil in 2024/25 due to the rapid decline in agricultural yields and quality of canes caused by fires and dryness in farmland. Wilmar now expects Brazil’s Centre-South production to be between 38.2 million metric tons and 39.5 millions metric tons. This is down from the 38.8-40.8% tons that were seen in September.
Sources say that Brazil's Petrobras will reduce its investments for 2025.
Three sources said that Brazil's Petrobras will reduce its planned investments next year despite the government's request for the state-run company to increase CAPEX. Initial estimates from the firm suggest that spending may be reduced to $17 billion. Petrobras didn't immediately respond to an inquiry for comment. Petrobras' current strategic plan for 2024-2028 includes investments of $102 billion.
Tereos warns that its results will be weaker as EU sugar prices plummet
Tereos CEO Olivier Leducq said that a fall in European sugar price more than expected in recent months, due to large supply, will impact the company's results in the second half. This will prompt Tereos to increase exports. In the last two years, EU markets have suffered due to large imports cheaper Ukrainian sugar. The EU executive halted shipments of Ukrainian Sugar…
Exports of US ethanol are surging, but production is booming -Braun
The U.S. ethanol stock dropped last week despite a surge in production. This was partly due to the sharp rise in gasoline demand which reached three-year highs. Even though the production of corn-based ethanol has been setting records, record exports of the fuel additive have kept the U.S. supply in check. The abundance of cheap corn, and the relatively low prices of natural gas…
Exports of US ethanol are surging, but production is booming -Braun
The U.S. ethanol stock dropped last week despite a surge in production. This was partly due to the sharp rise in gasoline demand which reached three-year highs. Even though the production of corn-based ethanol has been setting records, record exports of the fuel additive have kept U.S. supplies under control. The abundance of cheap corn…
Brazil's Inpasa starts operation at its largest corn based ethanol facility
Inpasa, Brazil’s largest corn-ethanol producer, began operating on Tuesday at its main biorefinery. According to the company, it can now be regarded as one of the largest production units for cereal-based biofuel in the world. Could not independently verify this claim. The announcement came as Brazil's government worked to increase the presence of biofuels on local markets.
Brazil's Potencial will invest $109 Million to make the world's biggest biodiesel factory.
Grupo Potencial, a Brazilian company, announced Tuesday that it would invest 600 million reais (108.86 millions dollars) in order to increase the biodiesel production at one of their plants. This will give the facility the largest capacity of biofuel based on soy oil anywhere in the world. The Brazilian government has been working to expand the use of biofuels on local markets.
Minister: Colombia and Germany in discussions over debt swaps
HAMBURG - On Monday, the Foreign Minister of Colombia, Luis Gilberto Murillo, said that the country is in discussions with Germany about a debt for nature swap to help fund a $40 billion plan by the country to move away from fossil fuels while protecting the environment. Last month, Colombia launched a new portfolio of investments for its climate-adaptation plans. It hopes to attract $40 billion.
Petrobras claims that the Sirius gas field in Colombia could produce 13.3 million cubic metres of gas per day.
Petrobras' exploration general manager Rogerio Soares, who spoke at a conference for the industry on Thursday, said that Colombia's offshore Sirius well could produce 13.3 million cubic metres per day in 10 years. Soares, speaking at the Colombian Petroleum Association (ACP)'s forum on oil and gas in Cartagena, said that the initial concept of Sirius envisioned the first offshore gas production in 2029- 2030.
Vale and GEP team up to explore green hydrogen in Brazil
The mining giant Vale announced on Tuesday that it has teamed up with Green Energy Park to explore the possibilities for green hydrogen production within the South American nation. Brazil is looking to develop green hydrogen as part of its efforts to unlock new industries to power its energy transformation. The government has called it a "real opportunity" for the country's footprint to expand in renewables.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Le Monde reported that France's new Premier Michel Barnier was considering a temporary rise in corporate tax for the biggest companies of France, as well as taxation on share buybacks. Bloomberg News, citing sources familiar with the issue…
StoneX predicts that Brazil's sugarcane crush will fall in 2025/26 due to bad weather and fires
StoneX, a consultancy, said that the center-south region of Brazil is expected to crush sugarcane at 593.2 millions metric tons by 2025/26. This represents a 3.2% decrease from the previous year, as bad weather and fires have affected the main producing area. According to StoneX, this would be the second consecutive season in which cane crushing declined in Brazil's main belt of sugar.
Petrobras' focus remains Brazil despite Africa plans, director says
Petrobras, the state-owned oil company in Brazil, has its main focus on its own country. Its director of exploration, production, said this Thursday. He added that Brazil remained a top priority, even though it plans to expand into Africa. Petrobras, which is looking to replenish its oil reserves in the future, has publicly expressed interest in expanding their oil fields in Africa.
Petrobras, Brazil's natural gas company, will pump gas from a reopened offshore oil well
Petrobras, the Brazilian oil giant, is planning to reopen an oil well that was closed in its offshore Roncador oil field to obtain natural gas quickly. This decision was made by the company's CEO on Thursday. Magda Chambriard, the Chief Executive of Magda Energy, told reporters that the well located northeast of Rio de Janeiro could begin producing as soon as next year.
Brazil's mega dams were supposed to lead the way for a greener future. Climate change came next
The drought has exacerbated the problem of underperformance. When he first came to power in the early 2000s, Brazil's President Luiz inacio Lula da silva bet his green future on "run-of river" megadams - whose turbines move by natural river flow rather than cascading water from towering dams. Santo Antonio Jirau and Belo Monte have been…
Brazil's Prio talks to Sinochem about buying Peregrino Oil Field stake
In a filing with the Securities and Exchange Commission on Wednesday, Brazilian oil company Prio said that it is in discussions with Sinochem of China about the possible purchase of a stake within the Peregrino Oil Field. Prio said that no binding agreement had been reached yet, after the newspaper Folha de S.Paulo published earlier in…
Brazil's ethanol producer Raizen is concerned about the drought affecting next sugarcane harvest
Raizen's chief executive, who spoke on Monday, said that the Brazilian ethanol manufacturer is more concerned about the impact of a drought on the sugarcane crop in 2025/26 than the current crop. Brazil is experiencing prolonged dry weather across many regions. This has affected crops such as sugarcane and the planting of new soy cycles.
Analyst Mistry predicts that Malaysian palm oil will trade between 3,700-4 500 rgt/T by mid-2025.
Dorab Mistry, an industry analyst, said that Malaysian palm oils are likely to trade in the range of 3,700-4,500 ringgit per metric ton between now and June. This is because demand will be high during the Chinese Lunar New Year as well as the holy Ramadan month. As of Friday morning, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange gained 42 ringgit or 1.08% to $3…
Analysts say that Colombia must develop a natgas plan soon to prevent blackouts.
If it wants to prevent power blackouts in Colombia, the head of Wood Mackenzie’s Americas Gas and LNG division said that Colombia needs to decide quickly whether it will focus on LNG imports or promote domestic production of natural gas. Colombia, under leftist president Gustavo Petro has moved away fracking in order to develop its reserves shale oil and gas.
