The Brazilian state-owned oil and gas company Petrobras $PETR3 (-1,16%)
$PETR4 (-0,55%) has sold then Asian bunker market and completed the first sale of very low sulphur fuel oil (VLSFO) with a 24% share of renewable energies (B24) in Singapore
As announced, the VLSFO has been sold to Golden Island, a bunker supplier based in Singapore. Petrobras announced that the transaction took place in early February and the delivery date is scheduled for the end of the month.
"The sale of VLSFO, with a 24% share of renewable energy in the Asian market, is in line with Petrobras' strategy to develop new products for a low-carbon market, drive innovation to create business value and enable new energy and decarbonization solutions," emphasized Claudio Schlosser, Director of Logistics, Commercialization and Markets at Petrobras.
The product distributed by Petrobras Singapore was reportedly made from a blend of 76% mineral fuel oil, sourced mostly from the company's refineries, and 24% of ISCC-EU certified UCOME (Used Cooking Oil Methyl Ester), a biofuel derived from the processing of used cooking oil (UCO).
According to Petrobras, the company used the facilities of the Jurong Port Universal Terminal for production, where it has a lease agreement for fuel oil and B24 tanks.
The process of delivering renewable content bunkers follows the same operational procedures used for 100% mineral bunkers, mainly using smaller vessels to load the product at the terminal and deliver it to the consuming unit, the Brazilian company added.