The Brazilian mining company Vale $VALE3 (-2,44%) and the oil and gas giant Petrobras $PETR3 (+1,2%)
$PETR4 (+0,17%) have entered into a commercial partnership to test a biofuel blend with 24% second-generation biodiesel on a ship chartered by Vale.
As part of this partnership, the bulk carrier Luise Oldendorff, chartered by Oldendorff Carriers, was fueled with ultra-low sulfur (VLS) B24 on April 22 in Singapore for testing purposes.
The fuel was formulated by Petrobras Singapore in their locally leased tanks by blending 76% fossil fuel oil from the Petrobras system refineries and 24% UCOME, a biofuel derived from the processing of used cooking oil (UCO) purchased in the region.
The product is ISCC EU-certified, meaning it meets the strict sustainability criteria, a requirement that accompanies the entire logistics chain of the biofuel in this process, Petrobras explained.
The biofuel bunker test is a continuation of the strategic partnership between Vale and Petrobras, which focuses on competitiveness and advancing the decarbonization agenda, including the development of sustainable fuels.
"We are increasingly developing sustainable fuels and delivering on our commitment to decarbonize our operations. The partnership with Vale is another achievement in Petrobras' goal to improve the company's production capacity and logistics structure to bring greener products to the market and strengthen our decarbonization strategy," said Petrobras President Magda Chambriard.