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Russian diesel maintains trend in Brazil even after Petrobras readjustment, says S&P

Written by Paulo Nogueira
Published 12/12/2023 às 11:19
fuel imported from Russia, diesel from Russia, Amber Energia, Braskem, COP28, Braskem CPI, Diesel, Global Stocktake (GST), Import, J&F, diesel price, oil price, judicial recovery, Russia, S&P Global, Tariff energy, Unigel, Venezuela
Suape Port Industrial Complex, in Pernambuco (Photo: Disclosure) – All rights: EPBR

The price of Brazilian diesel is close to that of the Gulf of Mexico, but is still higher than that of Russia. Purchase of energy from Venezuela and electric vehicle charging network.

O Russian diesel It has stood out as one of the main fuel import options for Brazil, showing growing demand in recent years. According to the S&P Global, the expectation is that the import of Russian diesel maintain its strength in the Brazilian market, even in the face of the adjustments recently announced by Petrobras.

With the increasing demand for fuel imported from Russia, the presence of diesel from Russia in the national market continues to be in evidence, indicating a growth trend for the coming years. The favorable scenario for the Russian diesel in Brazil reflects a panorama of opportunities and challenges for companies in the sector, which need to adapt to the reality of the international market to remain competitive.

Russian diesel import

According to the consultancy, the country imported 12,6 million barrels of diesel in November, of which 9,24 million barrels, equivalent to 73%, from Russia.

Contract closed for delivery in January

In the first week of December, 2,64 million barrels of diesel were imported, of which 1,92 million barrels came from the Russian market — already contracts closed for delivery in January.

Ships wait

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).

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.

Import price of 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 for service to Roraima.

  • Âmbar states that there will be a reduction in R $ 1 billion in costs compared to existing diesel thermal plants.

Stable oil

The price of oil closed close to stability this Monday (11/12), with fears of a Chinese slowdown offsetting optimistic prospects for American and European demand.

Global Stocktake (GST)

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.

  • 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'.

  • The language was criticized by Minister Marina Silva and, if approved, it will be a victory for OPEC and its allies.

  • 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.

Purchase of electric vehicle charging 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.

 

Source: EPBR

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Paulo Nogueira

An electrical engineer graduated from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), I worked for several years in the areas of offshore oil and gas, energy and construction. Today, with over 8 publications in magazines and online blogs about the energy sector, my focus is to provide real-time information on the Brazilian employment market, macro and micro economics and entrepreneurship. For questions, suggestions and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes for this purpose.

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