Brazil's Petrobras and miner Vale have decarbonization partnership in works [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Yahoo! Finance
help the mining company lower carbon emissions, the state-run oil firm's Chief Executive Magda Chambriard said on Monday. WHY IT'S IMPORTANT The two Brazilian companies are among the largest in Latin America by market value. Chambriard said the firms will "help each other" decarbonize, with a possible deal in which Petrobras would supply marine fuel and diesel with renewable content for Vale to run its railways, ships and trucks. KEY QUOTE "It's an effort by the two largest companies in Brazil towards decarbonization," Chambriard told journalists. BY THE NUMBERS Petrobras is already able to provide marine fuel with up to 24% of renewable content, and diesel with 5%, said Chambriard. ADDITIONAL CONTEXT Both Vale and Petrobras are looking for ways to reduce carbon emissions from their operations, with Vale resorting to batteries and renewable energy in its effort. Petrobras believes it could reach net zero carbon emissions by 2035, said Chambriard, but maintained tha
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