Through the signing of a memorandum of understanding, the companies Petrobras of Brazil and Enarsa of Argentina will seek an alliance in the field of natural gas.

According to a statement about this alliance, it was established that “the non-binding agreement has a term of three years and will allow the exchange of information, the evaluation of cooperation alternatives and energy complementarity between the two companies.”

Argentina seeks to coordinate the necessary measures to better guarantee the country’s gas supply during the winter, since it is the period of greatest demand.

“According to Petrobras, these actions to supply gas to Argentina will not have any impact on the supply of raw material in Brazil or any additional financial cost for the company.”

For its part, the Argentine Enarsa indicated that the memorandum with this alliance will be able to supply gas to the Argentine northwest “while the recently tendered works for the reversal of the Northern Gas Pipeline are completed”, in order to bring gas from the Vaca Muerta formation, in the province Patagonian town of Neuquén, to that area of ​​the country.

It is important to highlight that it is the second unconventional gas reserve in the world and the fourth oil reserve. So its development is crucial for the South American country, given that it will allow it to “reverse a significant deficit in the energy trade balance and become a net energy exporter.”

M.Pino

Source: yahoonoticias

(Reference image source: KWON JUNHO in Unsplash)

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The Brazilian oil giant, Petrobras, announced an investment of R$90 million (equivalent to about $18.4 million) in an ambitious research project focused on the production of green hydrogen and its potential application as a renewable fuel combined with natural gas in engines.

The state-owned company aims to establish a pilot electrolysis plant for the generation of green hydrogen, also known as low-carbon hydrogen, by processing water with energy derived from solar panels.

Located in Alto Rodrigues, a municipality in the state of Rio Grande do Norte (northeastern Brazil), the project will have an initial duration of three years and will be installed at an existing Petrobras facility, where an experimental photovoltaic generator is already in operation.

“The main purpose is to evaluate both the production and use of hydrogen obtained through the electrolysis of water using solar energy“, the oil company said in an official statement.

In addition, Petrobras intends to analyze “the performance and structural integrity of microturbines powered by a combination of hydrogen and natural gas.”

To meet the energy needs of the pilot electrolysis unit, the generation capacity of the solar plant at Alto Rodrigues will be increased from 1.0 to 2.5 megawatts peak.

Jean Paul Prates, President of Petrobras, quoted in the statement, said: “Among the benefits for the company is the development of knowledge about the behavior of the equipment depending on the mixture of hydrogen with natural gas, with a view to business models of interest to the company.”

K. Tovar

Source: ZBR

(Reference image: Social Mirror in Unsplash )

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La entrada Petrobras to invest in green hydrogen study apareció primero en Bitfinance.

Petrobras has signed a two-year non-binding confidentiality agreement with chemical company Unigel to discuss the possibility of entering into joint ventures for the development of projects related to green hydrogen and other low-carbon opportunities.

In a statement issued this Tuesday, the Brazilian oil company explained that the start of these conversations with Unigel is part of its 2024-2028 Strategic Plan.

After the technical analysis process, the projects that arise from this agreement will have official cost and return estimates and will be taken into consideration by the company’s internal bodies, as established by its governance policy.

Unigel is known for carrying out the first green hydrogen industrial-scale production and distribution initiative in Brazil, which is estimated to begin full operation in 2027, with a production capacity of 100,000 tons per year.

Founded in 1966, Unigel is strategically located in Brazil and has a leadership position that consolidates it as one of the largest chemical companies in Latin America and the largest manufacturer of nitrogenous fertilizers in Brazil.

As explained by the company, the agreement with Petrobras is in line with its strategic vision of promoting investments that allow the decarbonization of its operations, while providing solutions to the industry.

Source: dpa

(Reference image source: Consell de Mallorca, Europa Press / dpa)

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La entrada Petrobras plans to enter the green hydrogen business apareció primero en Bitfinance.

Petrobas announced this Monday an agreement with distributors to reduce the price of a cubic meter of natural gas by 8.1 % as of next May compared to the average value of the quarter between February and April.

The Brazilian oil company made this decision based on the variation in the price of the molecule and its transportation through pipelines. In turn, fluctuations in the Brent barrel and in the exchange rate are factors to be taken into account by both Petrobras and the distribution companies when updating the price of natural gas on a quarterly basis.

During the last quarter, oil fell in the order of 8.7 % and the exchange rate appreciated around 1.1 %. With this update, the price of natural gas sold by Petrobras to distributors will accumulate a reduction of approximately 19 % in the year.

However, this reduction will not be transferred directly to the final price paid by the consumer for natural gas, but this depends, in addition to the sale price set by the company, the supply portfolio of each distributor, their sales margins and the various federal and state taxes.

“The company points out that the update announced for the beginning of May does not refer to the price of liquefied cooking gas, bottled or sold in bulk”, Petrobras explained.

K. Tovar

Source: Notiamerica

(Reference image source: file)

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La entrada Petrobras announces gas price reduction apareció primero en Bitfinance.

Jair Bolsonaro, president of Brazil, reported that Petrobras, the state-owned oil company, will initiate a plan of small weekly reductions in the price of fuels. However, the president did not specify quantities, percentages, or terms.

Hydrocarbons have registered a sustained growth in their prices during this 2021 in Brazil, stimulated by the revaluation of oil in the international market, coupled with the loss of the value of the Brazilian real against the dollar.

The rise in diesel during the year is equivalent to 65 % and gasoline in 73 % in the different refineries of the South American country, which had an impact on the final consumer. The increase in fuels has also caused, in a decisive way, the increase in inflation, which has exceeded double digits, currently registering 10.7 %.

Bolsonaro without control over Petrobras

The president of Brazil has complained, on multiple occasions, about the increase in fuel prices, especially forced by the heavy cargo sector or truck drivers, who make up part of the social support of his government and are  now threatening to go on strike as protest measure against the increase in fuels.

On several occasions, Bolsonaro has declared that he does not have the power to manage and “interfere in Petrobas and that he will not control the prices of anything”, although at the same time he recognizes that he is “looking for formulas to change the calculation method.”

After several criticisms of the increase in fuel prices, last February Bolsonaro appointed Joaquin Silva e Luna, general of the army reserve, as Petrobas president. However, the adjustments continued and it is currently expected that the necessary measures will actually be taken to reduce prices.

M. Rodríguez

Source: elcomentario.ucol.mx

La entrada Petrobras announces fuel price reduction in Brazil apareció primero en Bitfinance.

The president of Brazil, Jair Bolsonaro, along with other members of the Government, handed over to Congress an interim measure to accelerate the privatization of the energy company Eletrobras.

The company is on the list of State companies that the Bolsonaro Executive wants to privatize before the end of 2021 in order to reduce the country’s public debt.

This measure comes at a time when the government’s privatization agenda is being questioned after Bolsonaro’s intervention in Petrobras, where he dismissed its president, Roberto Castello Branco, to replace him with former Defense Minister Joaquim Silva.

Thus, the presentation of this proposal reaffirms the president’s commitment to the privatization agenda defended by the Minister of Economy, Paulo Guedes.

Specifically, the text presented by Bolsonaro provides for the creation of gold shares for the Government, which means that it will have preferred shares and although it loses majority control, it will continue to have veto power for certain decisions, G1 collects.

The document was delivered to the presidents of the Senate, Rodrigo Pacheco, and to the Chamber of Deputies, Arturo Lira, who has advanced that he will pronounce on the measure in the plenary session next week.

K. Tovar

Source: El Periodico

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The president of Brazil, Jair Bolsonaro, announced that the government will eliminate federal taxes on diesel for two months, in order to seek the tax exemption indefinitely, and will abolish tax rates on gas permanently.

This was indicated by the president during a meeting on the social network Facebook with the Executive’s economic team. Bolsonaro pointed out that the measures will take effect from March 1st.

The president explained that during the two months in which it removes the diesel tax, the Government will study a definitive way to set this indicator to zero. This measure, according to the president, will serve to offset the “excessive” increase in diesel and gasoline prices established by Petrobras, the Brazilian state oil company.

Bolsonaro warned that even though he cannot interfere with the autonomy of the oil company, it should undergo some changes in order not to carry out abusive price increases on fuels, although he did not disclose further details.

“I cannot interfere in Petrobras, but something is going to happen in Petrobras in the next few days. Something must change,” the president said.

K. Tovar

Source: dpa

La entrada Brazil will eliminate diesel taxes apareció primero en Bitfinance.