Page 15 - LatAmOil Week 35

LatAmOil BRAZIL LatAmOil

Açu Petroleo’s terminal has a capacity of 1.2mn bpd (Photo: Açu Petroleo)
Specifically, it intends to use the proceeds of the of 1.2mn barrels per day (bpd).
IPO to expand its storage capacity and construct This terminal is the only private-sector facil-
a 45-km supply pipeline. Both the pipeline and ity in Brazil capable of accommodating very
the storage units are due to begin operating in large crude carriers (VLCCs). At present, it
2023. is handling around 25% of Brazil’s total crude
As of press time, no information was availa- exports and providing transhipment services for
ble on the launch date of the IPO or on the num- a number of European oil operators working in
ber of shares slated for sale. Reuters and other the country, including Equinor (Norway), Galp
sources have reported that Santander Brasil, (Portugal), Repsol (Spain), Royal Dutch Shell
Bradesco BBI ad Bank of America will manage (UK/Netherlands) and Total (France).
the stock offering. Earlier this year, Petrobras agreed to let Açu
Açu Petroleo is an important player in the Petroleo export 100mn barrels of crude oil over
Brazilian oil industry, as its primary focus is a two-year period ending in March 2021. The
providing logistical services for Petrobras, the parties had previously struck a deal that allowed
national oil company (NOC) of Brazil. The Açu Petroleo to carry out 48 transhipment
company’s terminal, which lies in 25-metre- operations, each consisting of 1mn barrels to be
deep water off the coast of Rio de Janeiro State, loaded onto Suezmax tankers or VLCCs over
handles crude from Petrobras’ offshore fields in a 24-month interval between March 2019 and
the Campos Basin. It has a throughput capacity March 2021. ™

Golar Power showing strong

interest in Brazilian LNG terminal

THE head of Golar Power, a 50:50 joint venture contract. The company is one of nine entities
between Bermuda-headquartered Golar LNG pre-qualified to bid in Petrobras’ bidding con-
and New York-listed Stonepeak Infrastructure test. The other eight include Excelerate Energy
Partners, said last week that his company was (US), another international firm that specialises
“very interested” in competing for the right to in LNG; Compass Gas and Energy, a new Brazil-
lease the Bahia LNG terminal in northern Brazil. ian gas transport and distribution company set
According to a Reuters report, Eduardo up by the Cosan industrial group; two Brazilian
Antonello, the CEO of Golar Power, said during gas distributors, Bahiagas and Naturgy, and four
a webinar that the firm was keen to work at the vertically integrated international oil companies
Bahia LNG terminal as the national oil company (IOCs) – BP (UK), Repsol (Spain), Royal Dutch
(NOC) Petrobras and the government strived to Shell (UK/Netherlands) and Total (France) – as
open up the Brazilian natural gas sector to pri- well as two international firms that specialise in
vate investors. He also stated that his company LNG.
had already carried out operations at the facility. The Bahia LNG terminal is located in the
Antonello did not say how much Golar north-eastern Brazil state of Bahia, an emerging
Power would be willing to offer for the lease oil and gas region.

Week 35 03•September•2020 www. NEWSBASE .com P15