Pre-Salt Oil: China Takes 23 Million Barrels and Dominates Historic R$ 17 Billion Union Oil Auction

Written by Bruno Teles

Published on 28/11/2024 at 11:14

Estatais chinesas arrematam 62% do petróleo da União, em leilão com 37,5 milhões de barris e arrecadação recorde de R$ 17 bilhões. (Imagem: Reprodução)

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Chinese Companies Dominate The Most Recent Oil Auction by The Union, Setting Records For Volume and Buyer Diversification.

The most recent oil auction by The Union has made history, bringing an unprecedented diversification of buyers, with absolute prominence for Chinese companies. At the event held by Pré-Sal Petróleo S.A (PPSA) on July 31 at B3, about two-thirds of the barrels were acquired by Chinese state-owned companies, such as PetroChina and CNOOC.

In total, 23 million barrels – out of a total of 37.5 million offered – were purchased by Chinese companies, consolidating the presence of the Asian country as the main destination for The Union’s oil. The change in pricing, now based on Brent, and the significant increase in the volumes offered were the main attractions for foreign companies, according to Tabita Loureiro, interim president of the PPSA.

“The more volume in the market, the greater the interest. Additionally, the new contractual conditions and confidence in the delivery of this oil were decisive,” stated Loureiro.

ARTICLE CONTINUES BELOW

The Impact of China and The Consolidation of The Pre-Salt

China Takes 23 Million Barrels and Dominates Historic Auction of R$ 17 Billion of Oil from The Union — Historic Oil Auction by The Union Sets Records With 10 Participating Companies, 23 Million Barrels Sold to China, and Revenue of R$ 17 Billion.

The entry of Chinese oil companies into the Brazilian market is not new, but the most recent auction marked a significant advancement. Since 2013, with the first auction under the sharing regime, Chinese companies had already integrated into consortia in the pre-salt. However, the current international pricing model, combined with the increasing volume, has created a more attractive and competitive environment.

The auction on July 31 recorded the largest number of participants in history, with 10 qualified companies. Additionally, the future revenue has been revised to R$ 17 billion, exceeding initial expectations of R$ 15 billion. This was the highest value ever reached for The Union’s oil.

Results and Perspectives

With a focus on the future, the PPSA plans new studies and auctions. Among the new initiatives is an analysis of long-term contracts for refining The Union’s oil, aiming to expand the national refining chain. Additionally, planning includes the natural gas associated with the pre-salt fields, with the goal of reducing infrastructure costs and maximizing returns for the Pre-Salt Social Fund.

China, the world’s largest oil importer, will continue to be a key player in the Brazilian market. In 2023, the Asian country accounted for 27% of international oil purchases, reinforcing its strategic position in global trade.

With the international scenario still surrounded by volatility, market confidence in events like the July auction shows that The Union’s oil is a relevant and competitive asset in the global market. And, as the results indicate, China seems to have consolidated its position as the main partner in this new phase of the Brazilian industry.

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Leandro

#91002

05/12/2024 09:15

Que “MARAVILHA” , enquanto vendemos petróleo para a China, aqui nas bombas pagamos uma fortuna pelo combustível.
Certamente esse dinheiro todo irá desaparecer no **** do governo e seguimos sem retorno algum.
AQUI É O BRASIL !!!!!!!

Respond

Oliveira

#87290

30/11/2024 18:15

Picanha para os picanheiro e mão de ferro para os próprio povo, em Rondônia garimpeiros tem suas dragas incendiadas presos e oprimidos pela ambiental sem chance de legalização, mas para país ditador até urânio matéria prima para produzir a bomba atômica pode, o potássio da Amazônia não pode tirar para abastecer o próprio mercado, isso e um deplorável um governo destruindo o próprio povo!

-1

Respond

Leandro

#91008

Reply to Oliveira

05/12/2024 09:23

Pura verdade. Um governo com uma mente “pseudo-socialista-que-adora-gastar”, terá sempre a tendência de acabar com o próprio país.
Quanto mais esculhambado, mais fácil de roubar.

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Teodoro José de Oliveira

#87158

30/11/2024 10:06

😂😂tô gostando de ver,isso porque já foi anunciado pra janeiro um “realinhamento “no preço do petróleo e combustíveis no Brasil 😂quero ver gasolina a $50 e diesel a$60 o litro para ver se esses jumentos aprende ter consciência política.😂😂

-1

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Pre-Salt Oil: China Takes 23 Million Barrels and Dominates Historic R$ 17 Billion Union Oil Auction

Chinese Companies Dominate The Most Recent Oil Auction by The Union, Setting Records For Volume and Buyer Diversification.

The Impact of China and The Consolidation of The Pre-Salt

Results and Perspectives

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Pre-Salt Oil: China Takes 23 Million Barrels and Dominates Historic R$ 17 Billion Union Oil Auction

Chinese Companies Dominate The Most Recent Oil Auction by The Union, Setting Records For Volume and Buyer Diversification.

The Impact of China and The Consolidation of The Pre-Salt

Results and Perspectives

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A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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