Petrobras’ executive marketing manager Guilherme França said that the state company sees great opportunities with the implementation of new rules for bunker fuel from 2020 onwards.
According to him, the Brazilian oil and the Petrobras refineries will gain with the change, which reduces the level of sulfur in the fuel.
The rules have been established by the IMO (International Shipping Organization). From January 1, 2020, bunker fuel will have to have a maximum of 0.5% sulfur, against the current limit of 3.5%. The measure is viewed with concern by the transport sector, given the cost impact.
Franca says that the pre-salt oil, which already has a sulfur content below the new limits, will gain value in the global market. In addition, after an investment cycle between 2004 and 2014, the company’s refineries were prepared to produce nobler, less polluting derivatives.
He estimates that, in complex refineries such as those of Petrobras, the refining margin should double, reaching US $ 14 per barrel. “I predict a return to the golden era of refining,” said the executive. Today, Petrobras supplies bunker fuel only in Brazil, at 12 supply points on the coast.
To win the international market, Petrobras is preparing for 2019 its return to Singapore, one of the largest consumers of fuel for ships, from where left in 2015, alleging a lack of profitability. “We want to position ourselves in the global bunker market,” said Franca, speaking at the Rio Oil & Gas fair in Rio.
Currently, Petrobras sells 4.5 million tons of bunker fuel per year, equivalent to 2% of global trade. The executive said that only with ships passing through Brazil, can increase the volume to 9 million tons per year. He did not want to estimate the market gain on his return to Singapore.
The new rules were established by the IMO with the aim of reducing pollution in the transport of goods by ships. For the Platts global director, Esa Ramasay, however, the move could affect the world economy due to inflationary potential. According to him, the cost of ship fuel will rise 50%.
“Shipping companies will surely pass on this additional cost,” he said. “Everything that is produced in the world is carried on ships. So if the cost of transport goes up, we will all be affected. ”
Source: Folha SP