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The price of Brazilian diesel is close to that produced in the Gulf of Mexico, but it is still more expensive than Russian diesel. Importing Russian diesel can reduce costs.
Imports of Russian diesel to Brazil continue to rise, according to information from S&P Global. Even with the readjustment announced by Petrobras, demand for Russian diesel remains strong and is expected to continue growing in 2024. The prospect of an increase in imports of Russian diesel shows Brazil's continued dependence on fossil fuels, especially oil, demonstrating the constant need to find sustainable alternatives for the country's energy matrix. For more information, click here.
Russian diesel import
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According to the consultancy, the country imported 10,5 million barrels of diesel in November, of which 7,7 million barrels, equivalent to 73%, from Russia.
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In the first week of December, 2,2 million barrels of diesel were imported, of which 1,6 million barrels came from the Russian market — contracts are already closed for delivery in January.
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According to S&P Global, traders bring cargo without a defined customer and ships wait up to a week by buyers at ports, mainly Itaqui (MA) and Suape (PE).
Diesel price adjustment
Petrobras reduced the price of diesel in 6,6% to distributors last Friday (8/12). With this, it practically eliminated the gap that existed in relation to the international market.
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The value of the Brazilian diesel is now close to that produced in the Gulf of Mexico, in the USA, but is still more expensive than Russian.
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Traders work with the expectation of another adjustment in January by Petrobras.
Stable oil. The price of oil closed close to stability this Monday (11/12), with fears about a Chinese slowdown offsetting optimistic prospects for American and European demand.
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WTI for January closed up 0,13%, at US$71,32 a barrel. Brent for February rose 0,25% to US$76,03 a barrel.
Consolidation of oil companies. Occidental Petroleum announced the purchase from Crown Rock for US$12 billion. With this, it will reinforce its unconventional gas portfolio in the Permian basins, the largest in the country, and Midland.
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The acquisition will add 170 barrels of oil equivalent per day (boe/d) to Occidental's production in 2024. And add 1,7 undeveloped exploratory areas.
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The acquisition is part of a consolidation movement in the North American oil market. This year alone, two of the biggest mergers of the century were announced: Chevron/Hess e ExxonMobil/Pioneer.
Creditors pressure Unigel. Holders of R$500 million in debentures issued by Unigel approved the beginning of the procedures for debt enforcement. The company, however, managed to get a 60-day suspension. Debts total more than R$3 billion.
Braskem CPI. The Parliamentary Commission of Inquiry should be installed in the Senate today to investigate the imminent risk of collapse at the Braskem mine in Mutange, in Maceió (AL).
- Author of the installation request, senator Renan Calheiros (MDB-AL) should be the rapporteur.
COP28 without consensus. The 'phase out of fossil fuels' was removed from the draft Global Stocktake (GST) – the most anticipated document of the UN Climate Conference (COP28). The conference ends this Tuesday (12/12) and there was still no consensus on the terms of the document.
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The text released in Dubai, on Monday (11/12), calls on countries to 'reduce both consumption and production of fossil fuels, in a fair, orderly and equitable manner'.
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The language was criticized by Minister Marina Silva and, if approved, it will be a victory for OPEC and its allies.
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And a defeat for one coalition of more than 80 countries, including the United States and members of the European Union, which is pushing for an agreement that addresses the phase-out of fossil fuels.
Upcoming COPs
Upcoming COPs. COP29 will be in Baku, Azerbaijan, between November 11 and 22, 2024. COP30 will be in Belém, between November 10 and 21, 2025. The decision was taken by consensus in a plenary session at the conference.
Record number of CBIOs. O RenovaBio set a new record for issuing decarbonization credits (CBIOs) in November 2023, with 4,3 million of titles that prove energy and environmental efficiency in the production of biofuels.
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Until then, the largest number of CBIOs issued in a month had been 3,3 million, in October 2020.
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By November, they had already been issued 32,3 million of CBIOs, more than in the whole of last year.
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Each credit is equivalent to one ton of carbon that is no longer released into the atmosphere through renewable fuels.
Raízen buys recharge network. Raízen Power bought the entire network of electric vehicle charging from the startup Tupinambá, with 204 alternating current (AC) chargers — and the potential to expand to more than 600 additional points from 7,4 to 22 kW of power.
Energy from Venezuela. The import price of energy from Venezuela through Amber (J&F) surpasses historical levels by far. According to Sheet, dispatches can reach R$1.080 per MWh. The Ministry of Mines and Energy justifies that the cost is lower than isolated generation to serve Roraima.
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Âmbar states that there will be a reduction in R $ 1 billion in costs compared to existing diesel thermal plants.
Opinion: 'Atoms for peace': milestone in the peaceful use of nuclear energy turns 70 years old. Demystifying negative perceptions of the source is a crucial challenge, writes Marco Antonio Alves.
Source: EPBR
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