Petrobras amends contract with Açu Petróleo; exports through terminal should more than double
RIO DE JANEIRO, BRAZIL – Petrobras has signed a contract amendment with Açu Petróleo that will enable it to more than double the volume of oil exported through the venture, the private terminal at the Port of Açu said in a statement last Friday.
The amendment, signed in April, provides for the state-owned oil company to ship up to 240 million barrels of oil, or approximately 300,000 barrels per day, through the Port of Açu during the next two years. The contract previously contemplated the export of only 100 million barrels.
Açu Petróleo stressed that since 2019, when Petrobras began operations at the terminal, the Brazilian oil company had twice requested the expansion of the operation volume, driven by growing oil production and export demand.
Accounting for 25% of national oil exports, located in the Northeastern Brazilian state of Rio Grande do Norte, Açu Petróleo serves all operators in Brazil and is working on the terminal’s expansion.
Investment plans include the expansion project with the construction of the Tank Farm and a pipeline connection to the existing network.
Since 2016, the company has conducted more than 270 oil transshipment operations, representing about 260 million barrels handled.
More: Brazil news in English, every day from The Rio Times.
Live Company IntelligencePetroleo Brasileiro Petrobras SA ADR — the full investor dossier
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
Brazil runoff, Sunday, October 25: Brazil runoff date. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.